Earnings per Common Share

9 Months Ended

Sep. 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 September 30,		Nine Months Ended September 30,
(In thousands)	2020	2019	2020	2019
Basic weighted-average common shares outstanding1	16,595	16,539	16,581	16,531
Incremental shares due to:
Stock-based awards	188	—	107	—
Diluted weighted-average common shares outstanding	16,783	16,539	16,689	16,531

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 0.4 million and 1.1 million for the three months ended September 30, 2020 and 2019 and 0.6 million and 1.0 million for the nine months ended September 30, 2020 and 2019.