Earnings Per Common Share

12 Months Ended

Dec. 31, 2021

Note 15 — 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 and unvested restricted stock and restricted stock units. The table below reconciles the weighted-average basic and diluted common shares outstanding for 2021, 2020 and 2019:


	Year Ended December 31,
	2021		2020		2019

Numerator for basic and diluted earnings per share:
Net income	$	45,863	$	98,682	$	64,581

Denominator:
Weighted average number of common shares outstanding - basic	74,816		74,696		74,362
Effect of dilutive securities1	146		89		228
Weighted average number of common shares outstanding - diluted	74,962		74,785		74,590

Basic earnings per share:	$	0.61	$	1.32	$	0.87

Diluted earnings per share:	$	0.61	$	1.32	$	0.87

1.Certain outstanding equity awards are anti-dilutive and therefore were 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:


	Year Ended December 31,
	2021	2020	2019
	(in thousands)
Anti-dilutive stock options and restricted stock units	1,980	2,121	1,682