Earnings Per Share

9 Months Ended

Sep. 30, 2020

Earnings per Share

Basic earnings per share is based upon the weighted average common shares outstanding during each year. Diluted earnings per share is based on the basic weighted earnings per share with additional weighted common shares for common stock equivalents. During the three and nine months ended September 30, 2020 and September 30, 2019, we had outstanding restricted shares of common stock to certain of our employees under the Company's 2011 Restricted Stock Award Plan (the "Plan"). A reconciliation of the numerator (net income) and denominator (weighted average number of shares outstanding of the basic and diluted earnings per share ("EPS")) for the three and nine months ended September 30, 2020 and September 30, 2019 is as follows (in thousands, except per share data):


	Three months ended September 30, 2020
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic EPS	$	20,714	81,370	$	0.25
Effect of restricted stock	—		34
Diluted EPS	$	20,714	81,404	$	0.25


	Three months ended September 30, 2019
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic EPS	$	20,501	81,992	$	0.25
Effect of restricted stock	—		48
Diluted EPS	$	20,501	82,040	$	0.25


	Nine Months Ended September 30, 2020
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic EPS	$	53,134	81,530	$	0.65
Effect of restricted stock	—		57
Diluted EPS	$	53,134	81,587	$	0.65


	Nine Months Ended September 30, 2019
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic EPS	$	60,180	81,965	$	0.73
Effect of restricted stock	—		43
Diluted EPS	$	60,180	82,008	$	0.73