Earnings Per Share

12 Months Ended

Dec. 31, 2022

3. EARNINGS PER SHARE

The following table presents the calculation of our basic and diluted earnings per share:


	For the Year Ended December 31,
	2022		2021		2020
(in thousands, except shares and per share data)
Calculation of Basic Earnings Per Share:
Income from Continuing Operations	$	89,796	$	83,467	$	70,642
Income/(Loss) from Discontinued Operations	—		(1)		856
Net Income	$	89,796	$	83,466	$	71,498

Weighted average shares outstanding	17,722,227		17,558,078		16,711,579
Earnings Per Share from Continuing Operations	$	5.07	$	4.75	$	4.23
Earnings Per Share from Discontinued Operations	—		—		0.05
Basic Earnings Per Share	$	5.07	$	4.75	$	4.28

Calculation of Diluted Earnings Per Share:
Reconciliation of Denominator:
Weighted average shares outstanding — Basic	17,722,227		17,558,078		16,711,579
Effect of dilutive securities — Share-based compensation	82,067		74,951		59,156
Adjusted denominator — Diluted	17,804,294		17,633,029		16,770,735
Earnings Per Share from Continuing Operations	$	5.04	$	4.73	$	4.21
Earnings Per Share from Discontinued Operations	—		—		0.05
Diluted Earnings Per Share	$	5.04	$	4.73	$	4.26