Earnings Per Share

3 Months Ended

Mar. 31, 2022

Note 3. Earnings Per Share

Basic and diluted earnings per share are computed based on the weighted-average number of shares outstanding during each period. Diluted earnings per share reflects the potential dilution that could occur upon the exercise of stock options or upon the vesting of restricted stock grants, any of which would result in the issuance of common stock that would then share in the net income of the Company.

	Three Months Ended March 31,
	2022		2021
Basic earnings per share:
Net income	$	34,509	$	39,427
Weighted-average basic shares outstanding		43,701,943		42,673,615
Basic earnings per share	$	0.79	$	0.92
Diluted earnings per share:
Net income, for diluted earnings per share	$	34,509	$	39,427
Total weighted-average basic shares outstanding		43,701,943		42,673,615
Add effect of dilutive stock options and restricted stock grants		1,525,593		2,023,235
Total weighted-average diluted shares outstanding		45,227,536		44,696,850
Diluted earnings per share	$	0.76	$	0.88
Anti-dilutive shares		172,631		—