Earnings Per Common Share

9 Months Ended

Sep. 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 nine months ended September 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 September 30,				For the Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator:
Net income	$	11,918	$	21,552	$	53,721	$	59,812
Less: Net income allocated to participating securities	(116)		(75)		(350)		(224)
Numerator for basic and diluted earnings available to common stockholders	$	11,802	$	21,477	$	53,371	$	59,588
Denominator:
Weighted-average basic common shares outstanding	96,297		95,214		95,922		95,195
Dilutive market condition stock awards	—		—		15		—
Weighted-average diluted common shares outstanding	96,297		95,214		95,937		95,195

Earnings per common share, basic	$	0.12	$	0.23	$	0.56	$	0.63
Earnings per common share, diluted	$	0.12	$	0.23	$	0.56	$	0.63
Antidilutive unvested restricted stock awards and performance awards excluded from the computation	535		300		436		300

The Company’s unvested restricted and performance based stock awards associated with its incentive award plan and unvested restricted stock awards 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 nine months ended September 30, 2021 and 2020, as applicable, when their inclusion would have been anti-dilutive.