Earnings Per Share

12 Months Ended

Dec. 31, 2021

3. EARNINGS PER SHARE

The following table presents the calculation of our basic and diluted earnings per share:


	For the Year Ended December 31,
	2021		2020		2019
(in thousands, except shares and per share data)
Calculation of Basic Earnings Per Share:
Income from Continuing Operations	$	83,467	$	70,642	$	61,100
Income/(Loss) from Discontinued Operations	(1)		856		4,053
Net Income	$	83,466	$	71,498	$	65,153

Weighted average shares outstanding	17,558,078		16,711,579		16,398,443
Earnings Per Share from Continuing Operations	$	4.75	$	4.23	$	3.73
Earnings Per Share from Discontinued Operations	—		0.05		0.24
Basic Earnings Per Share	$	4.75	$	4.28	$	3.97

Calculation of Diluted Earnings Per Share:
Reconciliation of Denominator:
Weighted average shares outstanding — Basic	17,558,078		16,711,579		16,398,443
Effect of dilutive securities — Share-based compensation	74,951		59,156		50,043
Adjusted denominator — Diluted	17,633,029		16,770,735		16,448,486
Earnings Per Share from Continuing Operations	$	4.73	$	4.21	$	3.72
Earnings Per Share from Discontinued Operations	—		0.05		0.24
Diluted Earnings Per Share	$	4.73	$	4.26	$	3.96