Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2022

Components of Basic and Diluted Earnings Per Share

The components of basic and diluted earnings per share were as follows for the three- and nine-month periods ended September 30, 2022 and 2021:


	Three Months Ended September 30,
(In Thousands, Except Share Data)	2022				2021
	Basic		Diluted		Basic		Diluted
Net income (loss)	$	(22,981)	$	(22,981)	$	(9,593)	$	(9,593)
Weighted-average common shares outstanding	25,188,958		25,188,958		25,092,167		25,092,167
Add dilutive effect of restricted stock unit awards	—		—		—		—
Add dilutive effect of stock options	—		—		—		—
Weighted-average common shares outstanding	25,188,958		25,188,958		25,092,167		25,092,167
Earnings (loss) per common share	$	(0.91)	$	(0.91)	$	(0.38)	$	(0.38)
Awards excluded from diluted earnings per share calculation(1)	—		392,062		—		865,966

(1)Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive.


	Nine Months Ended September 30,
(In Thousands, Except Share Data)	2022				2021
	Basic		Diluted		Basic		Diluted
Net income	$	(5,089)	$	(5,089)	$	22,859	$	22,859
Weighted-average common shares outstanding	25,146,318		25,146,318		25,095,733		25,095,733
Add dilutive effect of restricted stock unit awards	—		—		—		216,527
Add dilutive effect of stock options	—		—		—		115,058
Weighted-average common shares outstanding	25,146,318		25,146,318		25,095,733		25,427,318
Earnings per common share	$	(0.20)	$	(0.20)	$	0.91	$	0.90
Awards excluded from diluted earnings per share calculation(1)	—		479,981		—		674,921