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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2021
EARNINGS PER SHARE  
EARNINGS PER SHARE

14. EARNINGS PER SHARE

Basic earnings per common share (“EPS”) is computed based on the weighted-average number of common shares outstanding during each reporting period. Diluted EPS is based on the weighted-average number of common shares outstanding plus the number of additional shares that would have been outstanding had the dilutive common shares been issued. The following table reconciles the numerators and denominators used in the computations of both basic and diluted EPS.

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Three months ended

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Nine months ended

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September 30, 

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September 30, 

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2021

    

2020

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2021

    

2020

Numerator:

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Net income (in 000's)

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$

14,733

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$

8,446

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$

36,183

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$

27,507

Denominator:

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Basic weighted-average common shares outstanding

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24,204,362

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24,192,157

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24,202,053

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24,237,402

Effect of dilutive securities:

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Restricted stock grants

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13,280

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9,450

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10,478

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879

Stock options

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66,024

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12,672

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67,315

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5,646

Diluted weighted-average common shares outstanding

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24,283,666

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24,214,279

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24,279,846

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24,243,927

Earnings per share attributable to Legacy Housing Corporation

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Basic

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$

0.61

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$

0.35

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$

1.50

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$

1.13

Diluted

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$

0.61

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$

0.35

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$

1.49

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$

1.13

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The diluted earnings per share calculation excludes zero and 54,446 potential shares for the three and nine months ended September 30, 2020, because the effect of including theses potential shares would be antidilutive.