Earnings per share

3 Months Ended

Mar. 31, 2022

NOTE 14 - EARNINGS PER SHARE

Basic earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding for the period. Diluted earnings per share is similarly computed, except that the denominator includes the effect, using the treasury stock method, of unvested stock-based employee awards and shares held pursuant to our non-employee director deferred compensation plan, if including such potential shares of common stock is dilutive.

The following table presents our weighted average basic and diluted shares outstanding for the periods presented:


	Three Months Ended March 31,
		2022	2021
		(in thousands)
Weighted average common shares outstanding - basic		96,279	99,702




Weighted average common shares and equivalents outstanding - diluted		96,279	99,702

We reported a net loss for the three months ended March 31, 2022 and 2021. As a result, our basic and diluted weighted average common shares outstanding were the same for those periods because the effect of the common share equivalents was anti-dilutive.

The following table presents the weighted average common share equivalents excluded from the calculation of diluted earnings per share due to their anti-dilutive effect for the periods presented:


	Three Months Ended March 31,
		2022	2021
		(in thousands)
Weighted average common share equivalents excluded from diluted earnings per share due to their anti-dilutive effect:
RSUs and PSUs		2,281	1,748

Other stock-based awards		143	212
Total anti-dilutive common share equivalents		2,424	1,960