Earnings Per Share

12 Months Ended

Dec. 31, 2020

3. EARNINGS PER SHARE

The following table presents the calculation of our basic and diluted earnings per share for the years ended December 31:


	For the Year Ended December 31,
	2020		2019		2018
(in thousands, except shares and per share data)
Calculation of Basic Earnings Per Share:
Income from Continuing Operations	$	70,642	$	61,100	$	56,968
Income/(Loss) from Discontinued Operations	856		4,053		(388)
Net Income	$	71,498	$	65,153	$	56,580

Weighted average shares outstanding	16,711,579		16,398,443		16,369,616
Earnings Per Share from Continuing Operations	$	4.23	$	3.73	$	3.48
Earnings/(Loss) Per Share from Discontinued Operations	0.05		0.24		(0.02)
Basic Earnings Per Share	$	4.28	$	3.97	$	3.46

Calculation of Diluted Earnings Per Share:
Reconciliation of Denominator:
Weighted average shares outstanding — Basic	16,711,579		16,398,443		16,369,616
Effect of dilutive securities — Share-based compensation	59,156		50,043		50,254
Adjusted denominator — Diluted	16,770,735		16,448,486		16,419,870
Earnings Per Share from Continuing Operations	$	4.21	$	3.72	$	3.47
Earnings/(Loss) Per Share from Discontinued Operations	0.05		0.24		(0.02)
Diluted Earnings Per Share	$	4.26	$	3.96	$	3.45