Earnings per Common Share

6 Months Ended

Jun. 30, 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 June 30,		Six Months Ended June 30,
(In thousands)	2022	2021	2022	2021
Basic weighted-average common shares outstanding	16,849	16,685	16,788	16,678
Incremental shares due to:
Stock-based awards	105	—	171	—
Performance shares	125	—	120	—
Diluted weighted-average common shares outstanding	17,078	16,685	17,080	16,678

Shares excluded from the computation of diluted earnings per share were 0.4 million and 0.4 million for the quarter and six months ended June 30, 2022 as they were either antidilutive (not in-the-money) or the required performance conditions were not met. Shares excluded from the computation of diluted earnings per share were 0.7 million and 0.6 million for the quarter and six months ended June 30, 2021 due to our reporting a net loss for those periods.