Earnings Per Share

6 Months Ended

Jun. 30, 2020

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:



	Quarter Ended				Six Months Ended
	June 30,				June 30,
(Dollars in thousands, except share data)	2020		2019		2020		2019
Numerator:
Net income (loss) attributable to RDI common stockholders	$	(22,702)	$	2,331	$	(28,577)	$	207
Denominator:
Weighted average number of common stock – basic		21,742,667		22,894,083		21,749,356		22,901,764
Weighted average dilutive impact of awards		352,469		165,650		352,859		172,909
Weighted average number of common stock – diluted		22,095,136		23,059,733		22,102,215		23,074,673
Basic earnings (loss) per share attributable to RDI common stockholders	$	(1.04)	$	0.10	$	(1.31)	$	0.01
Diluted earnings (loss) per share attributable to RDI common stockholders	$	(1.04)	$	0.10	$	(1.31)	$	0.01
Awards excluded from diluted earnings (loss) per share		678,377		516,010		703,377		516,010

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 six months of 2020, we repurchased 75,157 shares of Class A Non-Voting Common Stock at an average price of $8.92 per share. All purchases occurred in the first quarter of 2020.