Earnings Per Share

12 Months Ended

Dec. 31, 2019

10. Earnings Per Share

Telesat has awarded employee stock options, which, if exercised, would result in dilution of Loral’s ownership interest in Telesat to approximately 62.3%. The following table presents the dilutive impact of Telesat stock options on Loral’s reported income from continuing operations for the purpose of computing diluted earnings per share (in thousands):


	Year Ended December 31,
	2019		2018
Income from continuing operations — basic	$	89,755	$	9,677
Less: Adjustment for dilutive effect of Telesat stock options		(528)		—
Income from continuing operations — diluted	$	89,227	$	9,677

Telesat stock options are excluded from the calculation of diluted loss per share for the year ended December 31, 2018 as the effect would be antidilutive.

Basic earnings per share is computed based upon the weighted average number of shares of voting and non-voting common stock outstanding. The following is the computation of common shares outstanding for diluted earnings per share (in thousands):


	Year Ended December 31,
		2019	2018
Weighted average common shares outstanding		30,933	30,933
Unconverted restricted stock units		75	75
Common shares outstanding for diluted earnings per share		31,008	31,008