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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
Basic earnings per share is calculated by dividing net income for the period by the weighted-average number of common shares outstanding for the period. In computing dilutive earnings per share, basic earnings per share is adjusted for the assumed issuance of all applicable potentially dilutive share-based awards, including common stock options, RSUs, RSAs and PSUs.

Below are basic and diluted earnings per share for the periods indicated (in thousands, except for share data):

Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Net income for basic and diluted earnings per common share$15,422 $15,984 $27,184 $27,638 
Shares:
Weighted-average common shares outstanding – basic36,001,670 38,257,156 36,239,997 38,309,295 
Effect of dilutive securities:
RSUs122,030 111,918 131,335 86,988 
Stock options329,196 713,109 332,531 631,525 
RSAs52,046 45,064 61,626 35,500 
PSUs366,732 101,744 350,001 89,731 
Weighted-average common shares outstanding – diluted36,871,674 39,228,991 37,115,490 39,153,039 
Earnings per common share – basic$0.43 $0.42 $0.75 $0.72 
Earnings per common share – diluted$0.42 $0.41 $0.73 $0.71 

As of June 30, 2023, there were 111.9 thousand RSUs and 58.4 thousand RSAs excluded from the diluted earnings per share calculation because, under the treasury stock method, the inclusion of these would be anti-dilutive.

As of June 30, 2022, there were 76.3 thousand stock options, 5.9 thousand RSUs and 131.2 thousand PSUs excluded from the diluted earnings per share calculation because, under the treasury stock method, the inclusion of these would be anti-dilutive.

As discussed in Note 13, the Company repurchased 916,122 shares and 1,232,581 shares of its common stock in the three and six months ended June 30, 2023, respectively. The effect of these repurchases on the Company’s weighted-average shares outstanding for the three and six months ended June 30, 2023 was a reduction of 737,711 shares and 464,658 shares, respectively, due to the timing of the repurchases.