Earnings per share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Earnings per share

The following table reflects the calculation of basic and diluted earnings per share. During each period, certain stock options, as noted below, were excluded from the calculation of diluted earnings per share because their effect would have been antidilutive. 

	Quarter Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share amounts)	2022		2021		2022		2021
Earnings per share – basic:
Net income	$	14,760	$	12,501	$	46,536	$	48,955
Net income attributable to non-controlling interest	(35)		(37)		(106)		(99)
Net income attributable to Deluxe	14,725		12,464		46,430		48,856
Income allocated to participating securities	(10)		(9)		(33)		(36)
Income attributable to Deluxe available to common shareholders	$	14,715	$	12,455	$	46,397	$	48,820
Weighted-average shares outstanding	43,116		42,574		42,974		42,294
Earnings per share – basic	$	0.34	$	0.29	$	1.08	$	1.15
Earnings per share – diluted:
Net income	$	14,760	$	12,501	$	46,536	$	48,955
Net income attributable to non-controlling interest	(35)		(37)		(106)		(99)
Net income attributable to Deluxe	14,725		12,464		46,430		48,856
Income allocated to participating securities	—		(9)		(22)		(27)
Re-measurement of share-based awards classified as liabilities	(162)		(329)		(507)		(329)
Income attributable to Deluxe available to common shareholders	$	14,563	$	12,126	$	45,901	$	48,500
Weighted-average shares outstanding	43,116		42,574		42,974		42,294
Dilutive impact of potential common shares	234		457		310		453
Weighted-average shares and potential common shares outstanding	43,350		43,031		43,284		42,747
Earnings per share – diluted	$	0.34	$	0.28	$	1.06	$	1.13
Antidilutive options excluded from calculation	1,815		2,314		1,815		2,314