Earnings per Common Share

6 Months Ended

Jun. 30, 2020

EARNINGS PER SHARE

Basic income (loss) per share is based on the weighted-average number of shares of common stock outstanding. Diluted income (loss) per share is based upon the weighted-average number of shares of common stock outstanding plus all potentially dilutive securities that were assumed to be converted into common shares at the beginning of the period under the treasury stock method.


	Three Months Ended June 30,			Six Months Ended June 30,
(In thousands)	2020	2019	2020	2019
Basic weighted-average common shares outstanding¹	16,594	16,539	16,575	16,528
Incremental shares due to:
Stock-based awards	92	—	70	24
Diluted weighted-average common shares outstanding	16,686	16,539	16,644	16,552

¹Basic weighted-average common shares outstanding includes restricted stock unit awards that are fully vested, but are deferred for future issuance.

Anti-dilutive shares excluded from the calculation were 0.7 million and 1.1 million for the three months ended June 30, 2020 and 2019 and 0.8 million and 1.0 million for the six months ended June 30, 2020 and 2019.