EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2026

Diluted earnings per share was computed based on the weighted-average number of shares outstanding plus all potentially dilutive common shares. A reconciliation of basic to diluted shares used in the earnings per share calculation is as follows:


	Three Months Ended
	March 31,
(In thousands)	2026	2025
Basic weighted-average shares outstanding	36,897	37,683
Dilutive effect of deferred stock compensation	161	168
Diluted weighted-average shares outstanding	37,058	37,851

For the three months ended March 31, 2026, there were approximately 29,000 shares issuable under equity-based awards that were excluded from the calculation of diluted earnings per share as they were anti-dilutive based on the average stock price during the period. There were no anti-dilutive shares for the three months ended March 31, 2025.