Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2024

Diluted weighted average shares is calculated as basic weighted average shares plus the effect, calculated using the treasury stock method, of assuming that restricted share units and performance share units have vested. The following table provides a reconciliation between the Company's basic weighted average number of common shares outstanding to its diluted weighted average number of common shares outstanding:


(In thousands, except per share data)	Three Months Ended September 30				Nine Months Ended September 30
	2024		2023		2024		2023
Weighted average number of common shares outstanding, basic	51,156		51,837		51,077		53,205
Dilutive effect of securities:
Restricted Share Units	78		139		106		110
Performance Share Units	43		30		34		24


Weighted average number of common shares outstanding, diluted	51,277		52,006		51,217		53,339
Effect of dilutive shares on earnings (loss) per share	$	—	$	—	$	(0.01)	$	—

The diluted weighted average number of common shares outstanding for the three and nine months ended September 30, 2024 excluded approximately 236,000 and 210,000, respectively, of common share equivalents issuable under the Company's stock compensation plans as compared to approximately 67,000 and 135,000 during the same respective periods of 2023, as their effect would have been antidilutive.

Dilutive common share equivalents are reflected in the earnings (loss) per share calculation while antidilutive common share equivalents are not reflected in the earnings (loss) per share calculation. For the three and nine months ended September 30, 2023, all incremental common share equivalents were not included in the computation of diluted earnings (loss) per share because to do so would have been antidilutive for each period.