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Earnings Per Share | 6 Months Ended
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Jun. 30, 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 June 30, |  | For the Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Basic weighted average number of shares outstanding | 12,689,191 |  |  | 12,640,463 |  |  | 12,634,464 |  |  | 12,768,096 |
Net dilutive effect of share-based awards, treasury method (1) | 991,955 |  |  | 484,192 |  |  | 861,125 |  |  | 501,398 |
Diluted weighted average number of shares outstanding | 13,681,146 |  |  | 13,124,655 |  |  | 13,495,589 |  |  | 13,269,494 |
Net income | $ | 31,159 |  |  | $ | 17,649 |  |  | $ | 69,817 |  |  | $ | 25,467 |
Earnings per share |  |  |  |  |  |  |
Basic | $ | 2.46 |  |  | $ | 1.40 |  |  | $ | 5.53 |  |  | $ | 1.99 |
Diluted | $ | 2.28 |  |  | $ | 1.34 |  |  | $ | 5.17 |  |  | $ | 1.92 |
(1) For the three and six months ended June 30, 2021, there was no Class A Stock granted under share-based compensation arrangements that were anti-dilutive. For the three and six months ended June 30, 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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