Earnings Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

(8) Earnings Per Share

Basic earnings per share was computed by dividing net income by the weighted-average number of Common Shares outstanding for each respective period. Diluted earnings per share was calculated by dividing net income by the weighted-average of all potentially dilutive Common Shares that were outstanding during the periods presented. 

Weighted-average Common Shares outstanding used in calculating basic and diluted earnings per share were as follows:

Three months ended March 31,	2020	2019
Basic weighted-average Common Shares outstanding	27,232,036	28,529,301
Effect of dilutive shares	359,135	555,507
Diluted weighted-average Common Shares outstanding	27,591,171	29,084,808

There were 789,027 and 691,207 performance-based right to receive Common Shares outstanding at March 31, 2020 and 2019, respectively. The right to receive Common Shares are included in the computation of diluted earnings per share based on the number of Common Shares that would be issuable if the end of the quarter were the end of the contingency period.