Earnings Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share

Earnings Per Share

Note 3. Earnings Per Share

Basic earnings per share is based on the weighted average shares of common stock outstanding during the period. Diluted earnings per share assumes the weighted average dilutive effect of common share equivalents outstanding during the period applied to the company’s basic earnings per share. Common share equivalents represent potentially dilutive restricted stock units, deferred stock units, restricted stock, and performance awards, and are excluded from the computation in periods in which they have an anti-dilutive effect. There were no anti-dilutive common share equivalents as of or for the three and nine-month periods ended September 30, 2022 and 2021.

	Three-Month Periods Ended September 30,
	2022						2021
			Weighted						Weighted
			Average						Average
	Net Income		Shares		Per Share		Net Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount		(Numerator)		(Denominator)		Amount
Basic earnings per share	$	914,325		180,264	$	5.07	$	990,763		202,450	$	4.89
Dilutive common share equivalents		-		1,349				-		1,717
Diluted earnings per share	$	914,325		181,613	$	5.03	$	990,763		204,167	$	4.85

Note 3. Earnings Per Share (Continued)

	Nine-Month Periods Ended September 30,
	2022						2021
			Weighted						Weighted
			Average						Average
	Net Income		Shares		Per Share		Net Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount		(Numerator)		(Denominator)		Amount
Basic earnings per share	$	3,227,810		186,288	$	17.33	$	2,123,561		207,704	$	10.22
Dilutive common share equivalents		-		1,243				-		1,518
Diluted earnings per share	$	3,227,810		187,531	$	17.21	$	2,123,561		209,222	$	10.15