EARNINGS PER SHARE

6 Months Ended

Sep. 30, 2023

10.	EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net earnings available to common shareholders by the basic weighted average number of shares of common stock outstanding during each period. Diluted earnings per share is calculated by dividing net earnings available to common shareholders by the basic weighted average number of shares of common stock outstanding plus common stock equivalents during each period.

The following table provides a reconciliation of the numerators and denominators used to calculate basic and diluted net income per common share as disclosed on our unaudited consolidated statements of operations for the three and six months ended September 30, 2023, and 2022, respectively (in thousands, except per share data).

	Three Months Ended September 30,				Six Months Ended September 30,
	2023		2022		2023		2022

Net earnings attributable to common shareholders - basic and diluted	$	32,664	$	28,469	$	66,511	$	50,808

Basic and diluted common shares outstanding:
Weighted average common shares outstanding — basic		26,624		26,578		26,588		26,546
Effect of dilutive shares		55		45		71		125
Weighted average shares common outstanding — diluted		26,679		26,623		26,659		26,671

Earnings per common share - basic	$	1.23	$	1.07	$	2.50	$	1.91

Earnings per common share - diluted	$	1.22	$	1.07	$	2.49	$	1.91