Note 5 - Earnings Per Share

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

5. EARNINGS PER SHARE

The following table sets forth the calculation of basic and diluted net earnings per common share under the two-class method for the three and nine months ended September 30, 2023 and 2022:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
Numerator:
Net earnings	$	19,448	$	16,548	$	61,795	$	38,649
Less dividends declared:
Class A		128		128		385		386
Class B		745		724		2,235		2,176
Undistributed earnings	$	18,575	$	15,696	$	59,175	$	36,087
Undistributed earnings allocation - basic and diluted:
Class A undistributed earnings	$	2,989	$	2,587	$	9,522	$	5,941
Class B undistributed earnings		15,586		13,109		49,653		30,146
Total undistributed earnings	$	18,575	$	15,696	$	59,175	$	36,087
Net earnings allocation - basic and diluted:
Class A net earnings	$	3,117	$	2,715	$	9,907	$	6,327
Class B net earnings		16,331		13,833		51,888		32,322
Net earnings	$	19,448	$	16,548	$	61,795	$	38,649
Denominator:
Weighted-average shares outstanding:
Class A - basic and diluted		2,142		2,142		2,142		2,144
Class B - basic and diluted		10,636		10,340		10,636		10,358
Net earnings per share:
Class A - basic and diluted	$	1.46	$	1.27	$	4.63	$	2.95
Class B - basic and diluted	$	1.54	$	1.34	$	4.88	$	3.12