Annual report pursuant to Section 13 and 15(d)

Earnings (Loss) Per Share

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Earnings (Loss) Per Share
 12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share EARNINGS (LOSS) PER SHARE
Earnings (loss) per share computations are based upon the following table:
(In thousands, except per share data) 2020 2019 2018
Net (Loss) Income $ (115,781) $ 52,017  $ 46,803 
Basic Earnings Weighted Average Shares 30,795  32,028  32,351 
Net Effect of Dilutive Stock Options —  431  785 
Diluted Earnings Weighted Average Shares 30,795  32,459  33,136 
Basic (Loss) Earnings Per Share $ (3.76) $ 1.62  $ 1.45 
Diluted (Loss) Earnings Per Share $ (3.76) $ 1.60  $ 1.41 
The above information has been adjusted to reflect the impact of the three-for-twenty distribution of Class B Stock for shareholders of record on October 12, 2018.
Stock options with exercise prices greater than the average market price of the underlying common shares are excluded from the computation of diluted earnings per share because they are out-of-the-money and the effect of their inclusion would be anti-dilutive. The number of common shares excluded from the computation was approximately 0.8 million for the year ended December 31, 2020, 0.5 million for the year ended December 31, 2019, and 0.2 million for the year ended December 31, 2018.