Net Income Per Share

6 Months Ended

Jun. 30, 2022

14. Net Income Per Share

The following is a reconciliation of the weighted average shares outstanding used to compute basic and diluted net income per common share:


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Basic weighted average common shares outstanding		35,283,969		34,903,657		35,208,349		34,856,950
Effect of dilutive securities - equity compensation awards		266,973		698,385		356,533		603,829
Diluted weighted average common shares outstanding		35,550,942		35,602,042		35,564,882		35,460,779

Equity compensation awards for which total employee proceeds from exercise exceed the average fair value of the same equity incentive instrument over the period have an anti-dilutive effect on earnings per share during periods with net income, and accordingly, are excluded from diluted weighted average common shares outstanding. Anti-dilutive equity instruments of 1,087,078 and 950,392 common shares were excluded from the diluted weighted average common shares outstanding for the three and six months ended June 30, 2022, respectively. Anti-dilutive equity instruments of 337,541 and 444,998 common shares were excluded from the diluted weighted average common shares outstanding for the three and six months ended June 30, 2021, respectively.

No cash dividends were declared or paid during the three and six months ended June 30, 2022 and 2021.