Earnings Per Share

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Earnings Per Share

Note 5 – Earnings Per Share

Basic earnings per share (“EPS”) is calculated by dividing the net income attributable to our 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 our 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)	2021		2020
Numerator:
Net income (loss) attributable to RDI common stockholders	$	18,965	$	(5,875)
Denominator:
Weighted average number of common stock – basic		21,761,307		21,752,371
Weighted average dilutive impact of awards		408,961		367,250
Weighted average number of common stock – diluted		22,170,268		22,119,621
Basic earnings (loss) per share attributable to RDI common stockholders	$	0.87	$	(0.27)
Diluted earnings (loss) per share attributable to RDI common stockholders	$	0.86	$	(0.27)
Awards excluded from diluted earnings (loss) per share		514,341		678,377

Our weighted average number of common stock - basic increased, primarily as a result of the vesting of restricted stock units. During the first three months of 2021, we did not repurchase any shares of Class A Common Stock.

Certain shares issuable under stock options and restricted stock units were excluded from the computation of diluted net income (loss) per share in periods when their effect was anti-dilutive; either because our Company incurred a net loss for the period, or the exercise price of the options was greater than the average market price of the common stock during the period, or the effect was anti-dilutive as a result of applying the treasury stock method.