XML 33 R23.htm IDEA: XBRL DOCUMENT v3.22.2.2
Earnings per Share (Tables)
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Computations of Basic and Diluted Earnings Per Share
The computations of basic and diluted EPS are set forth below:
For the Three Months Ended
September 30,
For the Nine Months Ended
September 30,
2022202120222021
(in thousands, except per share amounts, unaudited)
Numerator for basic and diluted EPS — net income (loss)$14,211 $20,144 $(16,627)$13,403 
Denominator for basic EPS — weighted average number of shares17,936 19,046 18,198 19,388 
Add — dilutive effect of:
Restricted stock units3,160 4,705 — (1)4,804 
Denominator for diluted EPS — weighted average number of shares and dilutive securities21,096 23,752 18,198 (1)24,192 
Earnings (loss) per share:
Basic EPS$0.79 $1.06 $(0.91)$0.69 
Diluted EPS$0.67 $0.85 $(0.91)$0.55 
____________________
(1) Excludes 4,255,000 unamortized restricted stock units that were antidilutive for the nine months ended September 30, 2022, and thus were not included in the above calculation. The incremental shares that could be included in the diluted EPS calculation in future periods will vary based on a variety of factors, including the future share price and the amount of unrecognized compensation cost. The incremental shares included, if any, would be less than the number of outstanding restricted stock units.
Schedule of Share-based Payment Arrangement, Restricted Stock Unit, Activity
The activity related to the restricted stock units is set forth below:
Restricted Stock Units Outstanding
20222021
Units
Grant Date
Weighted
Average Fair
Value
Units
Grant Date
Weighted
Average Fair
Value
Outstanding, January 1,7,799,509 $13.78 7,587,078 $14.68 
Granted1,810,570 16.10 2,461,261 13.07 
Delivered(1,836,150)14.77 (1,911,209)16.99 
Forfeited (251,177)14.12 (407,930)13.87 
Outstanding, September 30,
7,522,752 $13.91 7,729,200 $13.71