Earnings Per Share

6 Months Ended

Jun. 30, 2020

EARNINGS PER SHARE

Basic earnings per share are computed using NW Holdings' net income and the weighted average number of common shares outstanding for each period presented. Diluted earnings per share are computed in the same manner, except using the weighted average number of common shares outstanding plus the effects of the assumed exercise of stock options and the payment of estimated stock awards from other stock-based compensation plans that are outstanding at the end of each period presented. Anti-dilutive stock awards are excluded from the calculation of diluted earnings per common share.

NW Holdings' diluted earnings or loss per share are calculated as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
In thousands, except per share data	2020			2019			2020			2019
Net income (loss) from continuing operations	$	(5,132	)	$	2,051		$	43,144		$	45,469
Income (loss) from discontinued operations, net of tax	280			(956		)	(498		)	(1,173		)
Net income (loss)	$	(4,852	)	$	1,095		$	42,646		$	44,296
Average common shares outstanding - basic	30,537			29,337			30,514			29,123
Additional shares for stock-based compensation plans (See Note 7)	—			57			45			63
Average common shares outstanding - diluted	30,537			29,394			30,559			29,186
Earnings (loss) from continuing operations per share of common stock:
Basic	$	(0.17	)	$	0.07		$	1.41		$	1.56
Diluted	$	(0.17	)	$	0.07		$	1.41		$	1.56
Earnings (loss) from discontinued operations per share of common stock:
Basic	$	0.01		$	(0.03	)	$	(0.01	)	$	(0.04	)
Diluted	$	0.01		$	(0.03	)	$	(0.01	)	$	(0.04	)
Earnings (loss) per share of common stock:
Basic	$	(0.16	)	$	0.04		$	1.40		$	1.52
Diluted	$	(0.16	)	$	0.04		$	1.40		$	1.52
Additional information:
Anti-dilutive shares	41			1			—			2