Columbia Sportswear Company Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Earnings per Share

Earnings per Share

12 Months Ended

Dec. 31, 2021


NOTE 15 — 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:


	Year Ended December 31,
(in thousands, except per share amounts)	2021		2020		2019
Weighted average common shares outstanding, used in computing basic earnings per share	65,942		66,376		67,837
Effect of dilutive stock options and restricted stock units	473		396		656
Weighted average common shares outstanding, used in computing diluted earnings per share	66,415		66,772		68,493
Earnings per share:
Basic	$	5.37	$	1.63	$	4.87
Diluted	$	5.33	$	1.62	$	4.83

Stock options and service-based restricted stock units, and performance-based restricted stock representing 843,578, 1,122,935 and 405,928 shares of common stock for the years ended December 31, 2021, 2020 and 2019, respectively, were outstanding but were excluded from the computation of diluted EPS because their effect would be anti-dilutive under the treasury stock method or because the shares were subject to performance conditions that had not been met.