Earnings per Share

6 Months Ended

Jun. 30, 2023

The following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted earnings per share:


	Earnings		Weighted Average Shares	Earnings Per Share

	(In thousands, except per share amounts)
Three Months Ended June 30, 2023
Basic earnings per share	$	16,637	36,892	$	0.45
Effect of dilutive securities
Restricted stock units	—		177
Restricted stock awards	—		—
Performance share units (1)	—		—
Stock options	—		28

Diluted earnings per share (2)	$	16,637	37,097	$	0.45
Three Months Ended June 30, 2022
Basic earnings per share	$	48,492	36,699	$	1.32
Effect of dilutive securities
Restricted stock units	—		339
Restricted stock awards	—		34
Performance share units (1)	—		—
Stock options	—		113

Diluted earnings per share (2)	$	48,492	37,185	$	1.30
Six Months Ended June 30, 2023
Basic earnings per share	$	40,395	36,876	$	1.10
Effect of dilutive securities
Restricted stock units	—		168
Restricted stock awards	—		—
Performance share units (1)	—		—
Stock options	—		41

Diluted earnings per share (2)	$	40,395	37,085	$	1.09
Six Months Ended June 30, 2022
Basic earnings per share	$	83,216	36,667	$	2.27
Effect of dilutive securities
Restricted stock units	—		323
Restricted stock awards			42
Performance share units (1)	—		—
Stock options	—		75

Diluted earnings per share (2)	$	83,216	37,107	$	2.24

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(1)The performance share unit awards are contingently issuable and are considered in the calculation of diluted earnings per share. The Company assesses the number of awards that would be issuable, if any, under the terms of the agreement if the end of the reporting period were the end of the contingency period.

(2)The incremental shares of potentially dilutive restricted stock units and stock options were included for the three and six-month periods ended June 30, 2023 and 2022 as their effect was dilutive under the treasury stock method.