Earnings Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Note N – Earnings Per Share

Net income (loss) was used as the numerator in computing both basic and diluted income per Common share for each of the three years ended December 31, 2020.  The following table reconciles the weighted-average shares outstanding used for these computations.

(Weighted-average shares)	2020	2019	2018
Basic method	153,507,109	163,992,427	172,974,491
Dilutive stock options 1	—	820,001	1,234,274
Diluted method	153,507,109	164,812,428	174,208,765

1 Due to a net loss recognized by the Company for the year ended December 31, 2020, no unvested stock awards were included in the computation of diluted earnings per share because the effect would have been antidilutive.

The following table reflects certain options to purchase shares of common stock that were outstanding during the three years ended December 31, 2020, but were not included in the computation of dilutive earnings per share because the incremental shares from the assumed conversion were antidilutive.

	2020	2019	2018
Antidilutive stock options excluded from diluted shares	2,246,532	2,974,401	3,942,296
Weighted average price of these options	$39.67	$45.26	$46.77