Earnings Per Share

12 Months Ended

Dec. 31, 2023

Basic earnings per share are computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during each period. Diluted earnings per share are based on the weighted-average number of common shares outstanding during each period, plus common share equivalents, calculated for share-based awards outstanding using the treasury stock method.

In 2023 and 2022, options to purchase 344,230 and 1,505 shares of the Company's common stock, respectively, were antidilutive and accordingly were excluded in determining diluted earnings per share. In 2021, no options were antidilutive.


	For the Year Ended December 31,
(In thousands, except per share data)	2023		2022		2021
Basic earnings per share
Net Income	$	104,033	$	106,507	$	124,403
Total weighted average common stock outstanding	83,800		63,707		56,586
Net income per share	$	1.24	$	1.67	$	2.20

Diluted earnings per share
Net Income	$	104,033	$	106,507	$	124,403

Total weighted average common stock outstanding	83,800		63,707		56,586
Add: Dilutive effect of share-based awards outstanding	529		557		502
Total weighted average diluted stock outstanding	84,329		64,264		57,088
Net income per share	$	1.23	$	1.66	$	2.18
Net income has not been allocated to unvested restricted stock awards that are participating securities because the amounts that would be allocated are not material to net income per share of common stock. Unvested restricted stock awards that are participating securities represent less than one percent of all of the outstanding shares of common stock for each of the periods presented.