Earnings per Common Share

3 Months Ended

Mar. 31, 2022

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 March 31,
(In thousands)	2022	2021
Basic weighted-average common shares outstanding	16,728	16,647
Incremental shares due to:
Stock-based awards	229	238
Performance shares	116	94
Diluted weighted-average common shares outstanding	17,073	16,979

Anti-dilutive shares excluded from the calculation were 0.4 million and 0.2 million for the quarter ended March 31, 2022 and 2021.