Reconciliation of Basic and Diluted Earnings Per Share |
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2021 |
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2020 |
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2021 |
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2020 |
Net income (loss) |
$ |
(19.5) |
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$ |
(6.3) |
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$ |
7.7
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$ |
(19.5) |
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Weighted average shares outstanding: |
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Weighted average common shares outstanding |
21,685,862
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21,574,595 |
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21,677,449
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21,551,024 |
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Weighted average common shares, vested not yet issued |
255,592
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346,845 |
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252,060
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331,987 |
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Weighted average common shares outstanding - Basic |
21,941,454
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21,921,440 |
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21,929,509
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21,883,011 |
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Dilutive impact of stock-based compensation plans |
—
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— |
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158,570
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— |
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Weighted average common shares outstanding - Diluted |
21,941,454
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21,921,440 |
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22,088,079
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21,883,011 |
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Income (loss) per share of common stock: |
Basic income (loss) per share of common stock |
$ |
(0.89) |
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$ |
(0.29) |
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$ |
0.35
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$ |
(0.89) |
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Diluted income (loss) per share of common stock |
(0.89) |
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(0.29) |
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0.35
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(0.89) |
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In periods when there is a net loss, diluted loss per share is calculated using weighted average common shares outstanding, as inclusion of potentially dilutive common shares would be anti-dilutive.
Performance-based employee compensation awards are considered potentially dilutive in periods in which the performance conditions are met.
The following stock-based compensation awards were excluded from the computation of diluted income (loss) per share of common stock:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2021 |
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2020 |
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2021 |
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2020 |
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Potentially dilutive common shares excluded from diluted computation, as inclusion would be anti-dilutive or because performance conditions were not met |
1,724,334
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1,191,452 |
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1,585,888
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1,216,544 |
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