Earnings per Share (Tables)

9 Months Ended

Sep. 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 September 30, 2023
Basic earnings per share	$	18,670	36,969	$	0.51
Effect of dilutive securities
Restricted stock units	—		118
Restricted stock awards	—		15
Performance share units (1)	—		—
Stock options	—		59

Diluted earnings per share (2)	$	18,670	37,161	$	0.50
Three Months Ended September 30, 2022
Basic earnings per share	$	53,725	36,797	$	1.46
Effect of dilutive securities
Restricted stock units	—		263
Restricted stock awards	—		2
Performance share units (1)	—		—
Stock options	—		88

Diluted earnings per share (2)	$	53,725	37,150	$	1.45
Nine Months Ended September 30, 2023
Basic earnings per share	$	59,065	36,906	$	1.60
Effect of dilutive securities
Restricted stock units	—		161
Restricted stock awards	—		8
Performance share units (1)	—		—
Stock options	—		48

Diluted earnings per share (2)	$	59,065	37,123	$	1.59
Nine Months Ended September 30, 2022
Basic earnings per share	$	136,941	36,710	$	3.73
Effect of dilutive securities
Restricted stock units	—		309
Restricted stock awards			22
Performance share units (1)	—		—
Stock options	—		80

Diluted earnings per share (2)	$	136,941	37,121	$	3.69

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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, restricted stock awards and stock options were included for the three and nine-month periods ended September 30, 2023 and 2022 as their effect was dilutive under the treasury stock method.