Earnings per share

6 Months Ended

Jun. 30, 2022

The following table reflects the calculation of basic and diluted earnings per share. During each period, certain stock options, as noted below, were excluded from the calculation of diluted earnings per share because their effect would have been antidilutive.


	Quarter Ended June 30,				Six Months Ended June 30,
(in thousands, except per share amounts)	2022		2021		2022		2021
Earnings per share – basic:
Net income	$	22,097	$	12,129	$	31,776	$	36,453
Net income attributable to non-controlling interest	(35)		(29)		(71)		(62)
Net income attributable to Deluxe	22,062		12,100		31,705		36,391
Income allocated to participating securities	(16)		(10)		(23)		(27)
Income attributable to Deluxe available to common shareholders	$	22,046	$	12,090	$	31,682	$	36,364
Weighted-average shares outstanding	43,016		42,275		42,907		42,169
Earnings per share – basic	$	0.51	$	0.29	$	0.74	$	0.86

Earnings per share – diluted:
Net income	$	22,097	$	12,129	$	31,776	$	36,453
Net income attributable to non-controlling interest	(35)		(29)		(71)		(62)
Net income attributable to Deluxe	22,062		12,100		31,705		36,391
Income allocated to participating securities	(16)		(10)		(23)		(9)
Re-measurement of share-based awards classified as liabilities	(307)		—		(345)		—
Income attributable to Deluxe available to common shareholders	$	21,739	$	12,090	$	31,337	$	36,382
Weighted-average shares outstanding	43,016		42,275		42,907		42,169
Dilutive impact of potential common shares	269		444		349		451
Weighted-average shares and potential common shares outstanding	43,285		42,719		43,256		42,620
Earnings per share – diluted	$	0.50	$	0.28	$	0.72	$	0.85
Antidilutive options excluded from calculation	1,891		1,530		1,891		1,530