Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2023

Diluted weighted average shares is calculated as basic weighted average shares plus the effect, calculated using the treasury stock method, of assuming that restricted share units and performance share units have vested. The following table provides a reconciliation between the Company's basic weighted average number of common shares outstanding to its diluted weighted average number of common shares outstanding:


(In thousands, except per share data)	Three Months Ended September 30				Nine Months Ended September 30
	2023		2022		2023		2022
Weighted average number of common shares outstanding, basic	51,837		53,990		53,205		54,023
Dilutive effect of securities:
Restricted Share Units	139		117		110		112
Performance Share Units	30		17		24		16


Weighted average number of common shares outstanding, diluted	52,006		54,124		53,339		54,151
Effect of dilutive shares on earnings (loss) per share	$	—	$	—	$	—	$	—

The diluted weighted average number of common shares outstanding for the three and nine months ended September 30, 2023 excluded approximately 67,000 and 135,000, respectively, of common share equivalents issuable under the Company's stock compensation plans, as compared to approximately 2,000 during each of the three and nine months ended September 30, 2022, as their effect would have been antidilutive.

Dilutive common share equivalents are reflected in the earnings (loss) per share calculation while antidilutive common share equivalents are not reflected in the earnings (loss) per share calculation. For the three and nine months ended September 30, 2023 and 2022, all incremental common share equivalents were not included in the computation of diluted earnings (loss) per share because to do so would have been antidilutive for each period.