Earnings Per Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Earnings Per Share

Basic earnings per share are computed by dividing earnings applicable to common stock by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of common stock

equivalent shares that could occur if unvested shares were to vest. Common stock equivalent shares are calculated using the treasury stock method, as applicable. The dilutive effect is computed by dividing earnings applicable to common stock by the weighted average number of common shares outstanding plus the effect of the outstanding unvested restricted stock and performance share awards. Average shares used in computing the basic and diluted earnings per share are as follows:

	Three Months Ended
	September 30, 2020	September 30, 2019
Basic computation	50,576,564	50,443,866
Dilutive effect of:
Performance share awards (1)	97,529	335,371
Diluted computation	50,674,093	50,779,237

	Nine Months Ended
	September 30, 2020	September 30, 2019
Basic computation	50,551,121	50,422,028
Dilutive effect of:
Performance share awards (1)	105,395	334,002
Diluted computation	50,656,516	50,756,030

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(1)          Performance share awards are included in diluted weighted average number of shares outstanding based upon what would be issued if the end of the most recent reporting period was the end of the term of the award.