Earnings Per Share

9 Months Ended

Sep. 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. Using the treasury stock method, 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 September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Numerator - basic and diluted:
Net income attributable to shareholders	$	2,804	$	2,853	$	26,459	$	6,137

Denominator:
Basic weighted-average number of common shares	39,107,640		37,812,921		38,603,267		37,775,775
Diluted weighted-average number of shares	41,155,668		40,051,422		40,377,608		39,768,877

Basic earnings per share	$	0.07	$	0.08	$	0.69	$	0.17
Diluted earnings per share	$	0.07	$	0.07	$	0.66	$	0.15

Denominator calculation from basic to diluted:
Basic weighted-average number of common shares	39,107,640		37,812,921		38,603,267		37,775,775
Stock options and other dilutive securities	2,048,028		2,238,501		1,774,341		1,993,102
Diluted weighted-average number of shares	41,155,668		40,051,422		40,377,608		39,768,877