Earnings Per Share

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Earnings Per Share

(9) 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	2021	2020
Basic weighted-average Common Shares outstanding	27,016,551	27,232,036
Effect of dilutive shares	468,965	359,135
Diluted weighted-average Common Shares outstanding	27,485,516	27,591,171

There were 778,199 and 789,027 performance-based right to receive Common Shares outstanding at March 31, 2021 and 2020, 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.