Earnings Per Share

12 Months Ended

Dec. 31, 2021

4. EARNINGS PER SHARE

The following table shows the computation of basic and diluted earnings per share:


(Dollars and shares in thousands, except per share data)	2021		2020		2019
Numerator:
Net income attributable to WSFS	$	271,442	$	114,774	$	148,809
Denominator:
Weighted average basic shares	47,539		50,510		49,298
Dilutive potential common shares	164		37		256
Weighted average fully diluted shares	47,703		50,547		49,554
Earnings per share:
Basic	$	5.71	$	2.27	$	3.02
Diluted	$	5.69	$	2.27	$	3.00
Outstanding common stock equivalents having no dilutive effect	1		12		1

Basic earnings per share is calculated by dividing Net income attributable to WSFS by the weighted-average basic shares outstanding. Diluted earnings per share is calculated by dividing Net income attributable to WSFS by the weighted-average fully diluted shares outstanding, using the treasury stock method. Fully diluted shares include the adjustment for the dilutive effect of common stock awards, which include outstanding stock options and unvested restricted stock units under the 2013 Incentive Plan and the 2018 Incentive Plan.