Earnings Per Share

12 Months Ended

Dec. 31, 2021

Basic earnings per share (“Basic EPS”) has been computed using the weighted average number of common shares outstanding during each period. Diluted earnings per share (“Diluted EPS”) assumes, as of the beginning of the period, exercise of stock options and restricted stock grants using the treasury stock method. Diluted EPS also assumes conversion of performance-based restricted stock units to common shares based on the number of shares (if any) that would be issuable, according to predetermined performance and market goals, if the end of the reporting period was the end of the performance period.

The following is a reconciliation of the numerators and denominators used in the calculation of Basic EPS and Diluted EPS for the periods indicated below (in thousands, except per share amounts):


	Year Ended December 31, 2021					Year Ended December 31, 2020
	Net Income (Loss)		Shares	Per Share Amount		Net Income (Loss)		Shares	Per Share Amount
Basic EPS:
Net Income (Loss) and Share Amounts	$	86,759	13,118	$	6.61	$	(309,382)	11,902	$	(25.99)
Dilutive Securities:

Restricted Stock Unit Awards			285					—
Performance Based Stock Unit Awards			117					—

Diluted EPS:
Net Income (Loss) and Assumed Share Conversions	$	86,759	13,520	$	6.42	$	(309,382)	11,902	$	(25.99)

Approximately 0.3 million stock options to purchase shares were not included in the computation of Diluted EPS for both the years ended December 31, 2021 and 2020, because these stock options were antidilutive.

There were no antidilutive shares of restricted stock units for the year ended December 31, 2021. Approximately 0.2 million shares of restricted stock units that could be converted to common shares were not included in the computation of Diluted EPS for the year ended December 31, 2020 because they were antidilutive.

There were no antidilutive shares of performance-based restricted stock units for the year ended December 31, 2021. Approximately 0.1 million shares of performance-based restricted stock units were not included in the computation of Diluted EPS for the year ended December 31, 2020 because they were antidilutive.