Computation of Earnings Per Share

6 Months Ended

Jun. 30, 2022

(2) Computation of Earnings Per Share

The calculation of basic earnings per common share and diluted earnings per common share was as follows (in thousands, except per share amounts):


	Second Quarter				Six Months
	2022		2021		2022		2021
Numerator:
Net income	$	109,245	$	62,474	$	188,669	$	99,765
Denominator:
Denominator for basic earnings per share–weighted average common shares		26,507		26,332		26,489		26,309
Dilutive effect of share-based awards		158		372		173		378
Denominator for diluted earnings per share–adjusted weighted average common shares		26,665		26,704		26,662		26,687

Basic Earnings Per Share	$	4.12	$	2.37	$	7.12	$	3.79

Diluted Earnings Per Share	$	4.10	$	2.34	$	7.08	$	3.74

For the quarter ended June 30, 2022, options and restricted stock for 38,437 shares of common stock were excluded from the calculation of diluted earnings per share because their effect was anti-dilutive. For the six months ended June 30, 2022, options and restricted stock for 22,493 shares of common stock were excluded from the calculation of diluted earnings per share because their effect was anti-dilutive. For the quarter and six months ended June 30, 2021 options and restricted stock for 19,250 shares of common stock were excluded from the calculation of diluted earnings per share because their effect was anti-dilutive.