Earnings per Common Share

9 Months Ended

Sep. 30, 2021

EARNINGS PER SHARE

Basic income per share is based on the weighted-average number of shares of common stock outstanding. Diluted income per share is based upon the weighted-average number of shares of common stock outstanding plus all potentially dilutive securities that were assumed to be converted into common shares at the beginning of the period under the treasury stock method. This method requires the effect of potentially dilutive common stock equivalents be excluded from the calculation of diluted earnings per share for the periods in which net losses are reported because the effect is anti-dilutive.


	Quarter Ended September 30,		Nine Months Ended September 30,
(In thousands)	2021	2020	2021	2020
Basic weighted-average common shares outstanding	16,687	16,595	16,689	16,581
Incremental shares due to:
Stock-based awards	186	188	—	107
Performance shares	98	—	—	—
Diluted weighted-average common shares outstanding	16,971	16,783	16,689	16,689

Anti-dilutive shares excluded from the calculation were 0.3 million and 0.4 million