Earnings Per Common Share

6 Months Ended

Jun. 30, 2021

EARNINGS PER COMMON SHARE

The following table presents the calculation of basic and diluted earnings per common share (“EPS”) for the Company’s common stock for the three and six months ended June 30, 2021 and 2020, and reconciles the weighted-average common shares outstanding used in the calculation of basic EPS to the weighted-average common shares outstanding used in the calculation of diluted EPS (amounts in thousands, except per share amounts):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
Numerator:
Net income	$	21,317	$	18,935	$	41,803	$	38,260
Less: Net income allocated to participating securities	(116)		(75)		(234)		(148)
Numerator for basic and diluted earnings available to common stockholders	$	21,201	$	18,860	$	41,569	$	38,112
Denominator:
Weighted-average basic common shares outstanding	96,082		95,208		95,732		95,185
Dilutive market condition stock awards	38		—		23		—
Weighted-average diluted common shares outstanding	96,120		95,208		95,755		95,185

Earnings per common share, basic	$	0.22	$	0.20	$	0.43	$	0.40
Earnings per common share, diluted	$	0.22	$	0.20	$	0.43	$	0.40

The Company’s unvested restricted shares associated with its incentive award plan and unvested restricted shares issued to employees of Ensign at the Spin-Off have been excluded from the above calculation of earnings per diluted share for the three and six months ended June 30, 2021 and 2020, as applicable, when their inclusion would have been anti-dilutive.