Earnings Per Common Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Common Share

Note 14 — Earnings Per Common Share

Basic and diluted earnings per common share are computed by dividing net income by the weighted-average number of basic and diluted common shares outstanding, respectively. The weighted-average number of diluted common shares includes the impact of dilutive securities, including outstanding stock options and unvested restricted stock and restricted stock units. The table below reconciles the weighted-average basic and diluted common shares outstanding for 2023, 2022 and 2021:

	Year Ended December 31,
	2023		2022		2021
Numerator for basic and diluted earnings per share:
Net income	$	38,386	$	34,243	$	48,543
Denominator:
Weighted average number of common shares outstanding - basic	74,288		74,336		74,816
Effect of dilutive securities1	52		15		146
Weighted average number of common shares outstanding - diluted	74,340		74,351		74,962
Basic earnings per share:	$	0.52	$	0.46	$	0.65
Diluted earnings per share:	$	0.52	$	0.46	$	0.65

1.Certain outstanding equity awards are anti-dilutive and therefore were excluded from the calculation of the weighted-average number of diluted common shares outstanding.

Anti-dilutive outstanding equity awards under share-based compensation plans were as follows:

	Year Ended December 31,
	2023	2022	2021
	(in thousands)
Anti-dilutive equity awards	3,228	3,203	1,980