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Earnings Per Share | 3 Months Ended
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Mar. 31, 2021
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings per share Basic earnings per share is computed by dividing net income over the weighted average number of shares of Class A non-voting common stock ("Class A Stock") and Class B voting common stock ("Class B Stock") outstanding. Diluted earnings per share includes the weighted average number of shares of Class A Stock and Class B Stock outstanding and options to purchase Class A Stock and unvested restricted stock awards of Class A Stock using the treasury stock method. Earnings per share have been calculated as follows:
(Expressed in thousands, except number of shares and per share amounts) |  |  |  |  |  |
|  |  | For the Three Months Ended March 31,
|  |  |  |  | 2021 |  | 2020
Basic weighted average number of shares outstanding |  |  |  |  | 12,579,130 |  |  | 12,895,729 |
Net dilutive effect of share-based awards, treasury method (1) |  |  |  |  | 720,113 |  |  | 560,504 |
Diluted weighted average number of shares outstanding |  |  |  |  | 13,299,243 |  |  | 13,456,233 |
Net income |  |  |  |  | $ | 38,658 |  |  | $ | 7,818 |
Earnings per share |  |  |  |  |  |  |
Basic |  |  |  |  | $ | 3.07 |  |  | $ | 0.61 |
Diluted |  |  |  |  | $ | 2.91 |  |  | $ | 0.58 |
(1) For the three months ended March 31, 2021, there was no Class A Stock granted under share-based compensation arrangements that were anti-dilutive. For the three months ended March 31, 2020, the diluted net income per share computation did not include the anti-dilutive effect of 10,770 shares of Class A Stock granted under share-based compensation arrangements.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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