Columbia Sportswear Company Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

Earnings per Share

9 Months Ended

Sep. 30, 2021

NOTE 9—EARNINGS PER SHARE

Earnings per share ("EPS") is presented on both a basic and diluted basis. Basic EPS is based on the weighted average number of common shares outstanding. Diluted EPS reflects the potential dilution that could occur if outstanding securities or other contracts to issue common stock were exercised or converted into common stock.

A reconciliation of the common shares used in the denominator for computing basic and diluted EPS is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share amounts)	2021		2020		2021		2020
Weighted average common shares outstanding, used in computing basic earnings per share	65,862		66,179		66,182		66,427
Effect of dilutive stock options and restricted stock units	404		358		491		380
Weighted average common shares outstanding, used in computing diluted earnings per share	66,266		66,537		66,673		66,807
Earnings per share of common stock:
Basic	$	1.53	$	0.95	$	2.98	$	0.18
Diluted	$	1.52	$	0.94	$	2.96	$	0.18

Stock options, service-based restricted stock units, and performance-based restricted stock representing 652,317 and 810,092 shares of common stock for the three and nine months ended September 30, 2021, respectively, were outstanding but were excluded from the computation of diluted EPS because their effect would have been anti-dilutive under the treasury stock method, or because the shares were subject to performance conditions that had not been met.

Stock options, service-based restricted stock units, and performance-based restricted stock representing 1,156,073 and 1,282,086 shares of common stock for the three and nine months ended September 30, 2020, respectively, were outstanding but were excluded from the computation of diluted EPS because their effect would have been anti-dilutive due to a net loss in the period or because the shares were subject to performance conditions that had not been met.