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Earnings (Loss) Per Share (Tables)
3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Calculations of Earnings (Loss) Per Share

The calculations of earnings (loss) per share are as follows:

 

 

Three Months Ended March 31,

 

(In thousands, except per share amounts)

 

2022

 

 

2021

 

Basic earnings per Common Share:

 

 

 

 

 

 

Income from continuing operations, net of tax

 

$

18,471

 

 

$

4,300

 

Income from discontinued operations, net of tax

 

 

4,386

 

 

 

4,757

 

Net income

 

$

22,857

 

 

$

9,057

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding

 

 

115,862

 

 

 

140,191

 

 

 

 

 

 

 

 

Basic earnings from continuing operations per Common Share

 

$

0.16

 

 

$

0.03

 

Basic earnings from discontinued operations per Common Share

 

 

0.04

 

 

 

0.03

 

Net earnings per Common Share

 

$

0.20

 

 

$

0.06

 

 

 

 

 

 

 

 

Diluted earnings per Common Share:

 

 

 

 

 

 

Income from continuing operations, net of tax

 

$

18,471

 

 

$

4,300

 

Effect of assumed conversions:

 

 

 

 

 

 

Plus: Interest expense, net of tax, associated with 0.875% Convertible Senior Notes

 

 

506

 

 

 

0

 

Income from continuing operations, net of tax after the effect of assumed conversions

 

$

18,977

 

 

$

4,300

 

 

 

 

 

 

 

 

Income from discontinued operations, net of tax

 

$

4,386

 

 

$

4,757

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding

 

 

115,862

 

 

 

140,191

 

Plus: Dilutive effect of restricted stock unit awards, convertible notes and warrants

 

 

22,823

 

 

 

8,949

 

Weighted-average common shares outstanding assuming dilution

 

 

138,685

 

 

 

149,140

 

 

 

 

 

 

 

 

Diluted earnings from continuing operations per Common Share

 

$

0.14

 

 

$

0.03

 

Diluted earnings from discontinued operations per Common Share

 

 

0.03

 

 

 

0.03

 

Net earnings per Common Share

 

$

0.17

 

 

$

0.06

 

Anti-Dilutive Stock Options, Restricted Stock Unit Awards and Warrants Excluded from Computation of Diluted Earnings (Loss) Per Share

The following restricted stock unit awards, convertible notes and warrants are not included in the computation of diluted earnings per share as the effect of including such restricted stock unit awards, convertible notes and warrants in the computation would be anti-dilutive:

 

 

Three Months Ended March 31,

 

(In thousands)

 

2022

 

 

2021

 

Shares subject to anti-dilutive restricted stock unit awards, convertible notes and warrants excluded from calculation

 

 

0

 

 

 

5,360