Earnings per Weighted Average Common Share

3 Months Ended

Mar. 31, 2020

Earnings per Weighted Average Common Share

Earnings per Weighted Average Common Share

3. Earnings per Weighted Average Common Share

Basic earnings per weighted average common share (“EPS”) are calculated by dividing net income by the weighted average number of basic common shares outstanding during the period. Diluted earnings per share amounts are based on the weighted average number of common shares including non-vested performance stock grants.

The following table sets forth the computation of basic and diluted EPS for the periods indicated.

	Three Months Ended March 31,
	2020		2019
(Loss) Earnings attributable to common shareholders - basic and diluted:
Net (loss) income from continuing operations	$	(1,990)	$	29,946
Allocation of loss (income) for participating shares		10		(167)
Net (loss) income from continuing operations attributed to common shareholders	$	(1,980)	$	29,779
(Loss) Earnings per share denominator - basic and diluted
Total weighted average common shares outstanding, including participating shares		15,304,758		15,225,774
Less: weighted average participating shares		(73,974)		(84,970)
Basic (loss) earnings per share denominator		15,230,784		15,140,804
Common equivalent shares- non-vested performance stock grants		116,299		164,981
Diluted (loss) earnings per share denominator		15,347,083		15,305,785
Basic (loss) earnings per share	$	(0.13)	$	1.97
Diluted (loss) earnings per share	$	(0.13)	$	1.95
Undistributed (loss) earnings attributable to common shareholders - basic and diluted:
Net (loss) income from continuing operations attributable to common shareholders -Basic	$	(0.13)	$	1.97
Dividends declared		(0.90)		(0.80)
Undistributed (loss) earnings	$	(1.03)	$	1.17
Net (loss) income from continuing operations attributable to common shareholders -Diluted	$	(0.13)	$	1.95
Dividends declared		(0.90)		(0.80)
Undistributed (loss) earnings	$	(1.03)	$	1.15

Diluted EPS excludes non vested performance stock grants with exercise prices and exercise tax benefits greater than the average market price of the Company’s common stock during the period because their inclusion would be anti-dilutive. There were no anti-dilutive shares related to non vested performance stock grants for the three months ended March 31, 2020 and 2019.