Earnings Per Share

6 Months Ended

Jun. 30, 2020

Income per common share is calculated using earnings for the year divided by the weighted average number of shares outstanding during the year. Diluted income per share amounts are calculated giving effect to the potential dilution that would occur if securities or other contracts to issue common shares were exercised or converted to common shares by assuming the proceeds received from the exercise of stock options, restricted stock units, and warrants are used to purchase common shares at the prevailing market rate.

The following reflects the earnings and share data used in the basic and diluted earnings per share computations:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Numerator - basic and diluted:
Net income attributable to shareholders	$	19,412	$	1,326	$	23,655	$	3,284

Denominator:
Basic weighted-average number of common shares	38,665,765		37,686,763		38,348,310		38,165,274
Diluted weighted-average number of shares	40,814,238		39,975,307		40,103,016		40,166,855

Basic earnings per share	$	0.50	$	0.04	$	0.62	$	0.09
Diluted earnings per share	$	0.48	$	0.03	$	0.59	$	0.08

Denominator calculation from basic to diluted:
Basic weighted-average number of common shares	38,665,765		37,686,763		38,348,310		38,165,274
Stock options and other dilutive securities	2,148,473		2,288,544		1,754,706		2,001,581
Diluted weighted-average number of shares	40,814,238		39,975,307		40,103,016		40,166,855