Earnings Per Common Share

6 Months Ended

Jun. 30, 2021

Note 13—Earnings Per Common Share

Basic and diluted earnings per common share are computed by dividing net income by the weighted-average number of basic and diluted common shares outstanding, respectively. The weighted-average number of diluted common shares includes the impact of dilutive securities, including outstanding stock options, restricted stock units, and performance stock units. The table below reconciles the weighted-average basic and diluted common shares outstanding:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(in thousands)
Numerator for basic and diluted earnings per share:
Net income	$	9,565	$	23,101	$	34,218	$	43,291

Denominator:
Weighted average number of common shares outstanding - basic	75,005		74,695		75,004		74,676
Effect of dilutive securities 1	207		66		214		88
Weighted average number of common shares outstanding - diluted	75,212		74,761		75,218		74,764

Basic earnings per share:	$	0.13	$	0.31	$	0.46	$	0.58

Diluted earnings per share:	$	0.13	$	0.31	$	0.45	$	0.58

1.Certain outstanding equity awards are anti-dilutive and therefore excluded from the calculation of the weighted average number of diluted common shares outstanding.

Anti-dilutive outstanding equity awards under share-based compensation plans were as follows:


	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
	(in thousands)
Anti-dilutive	1,485	2,102	1,590	2,096