Net Income Per Share

3 Months Ended

Mar. 31, 2023

14. Net Income Per Common Share

The following is a reconciliation of the weighted average shares outstanding used to compute basic and diluted net income per common share:


	Three Months Ended March 31,
	2023		2022
Basic weighted average common shares outstanding		35,121,473		35,131,889
Effect of dilutive securities - equity compensation awards		626,548		434,046
Diluted weighted average common shares outstanding		35,748,021		35,565,935

Equity compensation awards for which total employee proceeds from exercise exceed the average fair value of the same equity incentive instrument over the period have an anti-dilutive effect on earnings per share during periods with net income, and accordingly, are excluded from diluted weighted average common shares outstanding. Anti-dilutive equity instruments of

682,930 and 588,050 common shares were excluded from the computation of diluted net earnings per share for the three months ended March 31, 2023 and 2022, respectively.

No cash dividends were declared or paid during the three months ended March 31, 2023 and 2022.