Earnings per Share
The following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted earnings (loss) per share:
Net Income (loss)
Weighted Average SharesEarnings (Loss) Per Share
(In thousands, except per share amounts)
Year Ended December 31, 2025
Basic earnings per share$70,203 36,773 $1.91
Effect of dilutive securities
Restricted stock awards (1)— 29 
Restricted share units (1)— 63 
Performance share units (1)— 31 
Stock options (1)— 12 
Diluted earnings per share$70,203 36,908 $1.90
Year Ended December 31, 2024
Basic earnings per share$62,986 37,106 $1.70
Effect of dilutive securities
Restricted stock awards (1)— 28 
Restricted share units (1)— 32 
Performance share units (1)— 11 
Stock options (1)— 11 
Diluted earnings per share$62,986 37,188 $1.69
Year Ended December 31, 2023
Basic earnings per share$60,857 36,939 $1.65
Effect of dilutive securities
Restricted stock awards (1)— 19 
Restricted share units (1)— 120 
Performance share units (1)— 13 
Stock options (1)— 43 
Diluted earnings per share$60,857 37,134 $1.64
____________________

(1)The incremental shares of potentially dilutive restricted stock awards, restricted stock units, performance share units and stock options were included as their effect was dilutive under the treasury stock method..

See Note 15 for discussion of the Company’s share-based compensation awards.
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Historical Timeline

Fiscal YearFiled
2025Mar 5, 2026Showing above
2024Mar 11, 2025
2023Mar 7, 2024
2019Feb 27, 2020
2018Mar 5, 2019
2016Mar 3, 2017
2015Mar 30, 2016

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.