Earnings Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per ShareBasic earnings per share (“Basic EPS”) has been computed using the weighted average number of common shares outstanding during each period. Diluted earnings per share (“Diluted EPS”) assumes, as of the beginning of the period, exercise of stock options and restricted stock grants using the treasury stock method. Diluted EPS also assumes conversion of performance-based restricted stock units to common shares based on the number of shares (if any) that would be issuable, according to predetermined performance and market goals, if the end of the reporting period was the end of the performance period.

The following is a reconciliation of the numerators and denominators used in the calculation of Basic EPS and Diluted EPS for the periods indicated below (in thousands, except per share amounts):


	Year Ended December 31, 2022					Year Ended December 31, 2021
	Net Income (Loss)		Shares	Per Share Amount		Net Income (Loss)		Shares	Per Share Amount
Basic EPS:
Net Income (Loss) and Share Amounts	$	340,437	19,748	$	17.24	$	86,759	13,118	$	6.61
Dilutive Securities:

Restricted Stock Unit Awards			162					285
Performance Based Stock Unit Awards			149					117
Stock Option Awards			38					—
Diluted EPS:
Net Income (Loss) and Assumed Share Conversions	$	340,437	20,097	$	16.94	$	86,759	13,520	$	6.42

Less than 0.1 million and 0.3 million stock options to purchase shares were not included in the computation of Diluted EPS for both the years ended December 31, 2022 and 2021, because they were antidilutive.

Less than 0.1 million shares of restricted stock units were not included in the computation of Diluted EPS for the year ended December 31, 2022 because they were antidilutive. There were no antidilutive shares of restricted stock units for the year ended December 31, 2021.

There were no antidilutive shares of performance-based restricted stock units for either of the years ended December 31, 2022 and 2021.