Note 5 – Earnings Per Share

Basic earnings per share (“EPS”) is calculated by dividing the net income attributable to the Company’s common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS is calculated by dividing the net income attributable to the Company’s common stockholders by the weighted average number of common and common equivalent shares outstanding during the period and is calculated using the treasury stock method for equity-based compensation awards.

The following table sets forth the computation of basic and diluted EPS and a reconciliation of the weighted average number of common and common equivalent shares outstanding:



	Three Months Ended
	March 31,
(Dollars in thousands, except share data)	2020		2019
Numerator:
Net income (loss) attributable to RDI common stockholders	$	(5,875)	$	(2,125)
Denominator:
Weighted average number of common stock – basic		21,752,371		22,920,486
Weighted average dilutive impact of awards		367,250		203,620
Weighted average number of common stock – diluted		22,119,621		23,124,106
Basic earnings (loss) per share attributable to RDI common stockholders	$	(0.27)	$	(0.09)
Diluted earnings (loss) per share attributable to RDI common stockholders	$	(0.27)	$	(0.09)
Awards excluded from diluted earnings (loss) per share		678,377		496,089

Our weighted average number of common stock - basic decreased, primarily as a result of the repurchase of shares of Class A Non-Voting Common Stock pursuant to our current stock repurchase program offset by the vesting of restricted stock units. During the first three months of 2020, we repurchased 75,157 shares of Class A Non-Voting Common Stock at an average price of $8.92 per share.