Earnings Per Share

3 Months Ended

Mar. 31, 2022

NOTE 9. Earnings Per Share

Basic earnings per share is calculated by dividing Net income by the weighted-average number of shares of common stock outstanding. Diluted earnings per share is similarly calculated, except that the calculation includes the dilutive effect of the assumed issuance of shares under stock-based compensation plans, unless the inclusion of such shares would have an anti-dilutive effect. The computation of Earnings per share is as follows (in thousands, except per share data):


	Three Months Ended March 31,
	2022		2021
Net income	$	4,340	$	5,278
Basic weighted-average common shares outstanding		69,463		67,787
Effect of dilutive stock-based compensation awards (1)		1,436		2,467
Diluted weighted-average common shares outstanding		70,899		70,254
Earnings per share, basic	$	0.06	$	0.08
Earnings per share, diluted		0.06		0.08

(1)

There were 1,738 and 1,815 potential common shares excluded from diluted weighted-average common shares outstanding for the three months ended March 31, 2022 and March 31, 2021, respectively, as their inclusion would have had an anti-dilutive effect.