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Earnings Per Share
12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 17 - EARNINGS PER SHARE

EPS is computed by dividing reported net income by the weighted-average number of shares outstanding. Diluted EPS considers the potential dilution that could occur if common stock equivalents of stock options, RSUs, and PSAs were exercised or converted into stock. PSAs are included in the computation of diluted shares only to the extent that the underlying performance conditions (i) are satisfied as of the end of the reporting period or (ii) would be considered satisfied if the end of the reporting period were the end of the related performance period and the result would be dilutive under the treasury stock method. For the years ended December 31, 2021, 2020, and 2019, there were 8,405 weighted-average shares, 1,879 weighted-average shares, and 2,822 weighted-average shares, respectively, excluded from the calculation of EPS because they were anti-dilutive. The anti-dilutive shares were primarily RSUs.

The dilutive effect of stock options, RSUs, and performance shares for each period reported is summarized below:

 

 

 

2021

 

 

2020

 

 

2019

 

Basic weighted-average shares outstanding

 

 

18,868

 

 

 

18,841

 

 

 

18,816

 

Effect of potential exercise of stock options, RSUs, and PSAs

 

 

256

 

 

 

294

 

 

 

408

 

Diluted weighted-average shares outstanding

 

 

19,124

 

 

 

19,135

 

 

 

19,224