| 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 common shares used in the denominator for computing basic and diluted EPS is as follows:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
(in thousands, except per share amounts) |
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2019 |
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2018 |
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2019 |
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2018 |
Weighted average shares of common stock outstanding, used in computing basic earnings per share |
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67,593 |
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69,589 |
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67,935 |
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69,895 |
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Effect of dilutive stock options and restricted stock units |
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587 |
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768 |
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685 |
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790 |
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Weighted average shares of common stock outstanding, used in computing diluted earnings per share |
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68,180 |
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70,357 |
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68,620 |
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70,685 |
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Earnings per share of common stock attributable to Columbia Sportswear Company: |
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Basic |
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$ |
1.76 |
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$ |
1.44 |
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$ |
3.19 |
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$ |
2.22 |
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Diluted |
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$ |
1.75 |
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$ |
1.42 |
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$ |
3.15 |
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$ |
2.19 |
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Stock options, service-based restricted stock units, and performance-based restricted stock representing 440,993 and 240,357 shares of common stock for the three months ended September 30, 2019 and 2018, respectively, and 378,617 and 349,381 shares of common stock for the nine months ended September 30, 2019 and 2018, 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.
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