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Computation of Earnings Per Share
 3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
Computation of Earnings Per Share

(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):

 

 

First Quarter

 

 

 

2023

 

 

2022

 

Numerator:

 

 

 

 

 

 

Net income

 

$

76,097

 

 

$

79,424

 

Denominator:

 

 

 

 

 

 

Denominator for basic earnings per share–weighted
     average common shares

 

 

26,600

 

 

 

26,391

 

Dilutive effect of share-based awards

 

 

102

 

 

 

279

 

Denominator for diluted earnings per share–adjusted
     weighted average common shares

 

 

26,702

 

 

 

26,670

 

 

 

 

 

 

 

 

Basic Earnings Per Share

 

$

2.86

 

$

3.01

 

 

 

 

 

 

 

 

Diluted Earnings Per Share

 

$

2.85

 

$

2.98

 

For the quarters ended March 31, 2023 and 2022, options and restricted stock for 29,120 and 15,808 shares of common stock, respectively, were excluded from the calculation of diluted earnings per share because their effect was anti-dilutive.