EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2021

The following table presents the computation of basic and diluted earnings per share (in thousands, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Net income from continuing operations	$	(42,039)	$	12,881	$	88,213	$	69,974
Net income from discontinued operations, net of tax	—		—		—		1,285
Net income	$	(42,039)	$	12,881	$	88,213	$	71,259

Weighted average common shares - basic	41,220		40,885		41,459		40,838
Dilutive effect of stock options and restricted stock units	—		890		1,963		822
Weighted average common shares - diluted	41,220		41,775		43,422		41,660

Basic earnings per share:
Continuing operations	$	(1.02)	$	0.32	$	2.13	$	1.71
Discontinued operations	—		—		—		0.03
Basic earnings per share	$	(1.02)	$	0.32	$	2.13	$	1.74

Diluted earnings per share:
Continuing operations	$	(1.02)	$	0.31	$	2.03	$	1.68
Discontinued operations	—		—		—		0.03
Diluted earnings per share	$	(1.02)	$	0.31	$	2.03	$	1.71

Potential shares of common stock that would have the effect of increasing diluted earnings per share or decreasing diluted loss per share are considered to be anti-dilutive; therefore, these shares are not included in calculating diluted earnings per share. For the three and nine months ended September 30, 2021, there were 0.1 million and 0.1 million, respectively, and for the three and nine months ended September 30, 2020, there were 1.7 million and 1.3 million, respectively, of potential shares of common stock excluded from the calculation of diluted earnings per share because their effect was anti-dilutive.

The Company utilizes the "control number" concept in the computation of diluted earnings per share to determine whether potential common stock instruments are dilutive. The control number used is income from continuing operations. The control number concept requires that the same number of potentially dilutive securities applied in computing diluted earnings per share from continuing operations is applied to all other categories of income or loss, regardless of their anti-dilutive effect on such categories.