Earnings Per Share

3 Months Ended

Mar. 31, 2022

(5) Earnings Per Share

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 RSU grants using the treasury stock method. Diluted EPS also assumes conversion of PSUs 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. Certain of our stock options and RSU grants that would potentially dilute Basic EPS in the future were also antidilutive for the three months ended March 31, 2022 and 2021 are discussed below.

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):


	Three Months Ended March 31, 2022					Three Months Ended March 31, 2021
	Net Income (Loss)		Shares	Per Share Amount		Net Income (Loss)		Shares	Per Share Amount
Basic EPS:
Net Income (Loss) and Share Amounts	$	(64,255)	16,719	$	(3.84)	$	28,380	12,029	$	2.36
Dilutive Securities:

RSU Awards			—					265

Diluted EPS:
Net Income (Loss) and Assumed Share Conversions	$	(64,255)	16,719	$	(3.84)	$	28,380	12,294	$	2.31

Approximately 0.2 million stock options to purchase shares were not included in the computation of Diluted EPS for the three months ended March 31, 2022 because they were antidilutive due to the net loss while 0.3 million stock options to purchase shares were not included in the computation of Diluted EPS for the three months ended March 31, 2021 because they were antidilutive.

Less than 0.1 million antidilutive shares of RSUs that could be converted to common shares were not included in the computation of Diluted EPS for the three months ended March 31, 2022 because they were antidilutive due to the net loss,

while approximately 0.2 million of RSUs that could be converted to common shares were not included in the computation of Diluted EPS for the three months ended March 31, 2021 because they were antidilutive.There were no antidilutive shares of PSUs that could be converted to common shares for the three months ended March 31, 2022, while approximately 0.1 million shares of PSUs that could be converted to common shares were not included in the computation of Diluted EPS for the three months ended March 31, 2021 because they were antidilutive