XML 32 R22.htm IDEA: XBRL DOCUMENT v3.24.3
Weighted-Average Number of Shares Used in Computing Earnings Per Share
9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Weighted-Average Number of Shares Used in Computing Earnings Per Share Weighted-Average Number of Shares Used in Computing Earnings Per Share
The following table sets forth the weighted-average number of shares used in the computation of earnings per share:
 Three Months Ended September 30,Nine Months Ended September 30,
 2024202320242023
(In millions)
Weighted-average basic shares outstanding13.1 12.4 12.7 12.2 
Plus: Dilutive impact of employee stock awards0.3 0.2 0.3 0.2 
Weighted-average diluted shares outstanding13.4 12.6 13.0 12.4 

Certain restricted stock awards are anti-dilutive and therefore excluded from the computation of diluted earnings per share. Anti-dilutive shares were 0.0 million and 0.1 million for the three months ended September 30, 2024 and 2023, respectively, and 0.0 million and 0.1 million for the nine months ended September 30, 2024 and 2023, respectively.
On June 3, 2024, the Company entered into an agreement providing for an at the market program (“ATM program”) authorizing the sale of up to $50.0 million of the Company's common stock. For the three and nine months ended September 30, 2024, the Company sold 366,324 shares of common stock for aggregate net proceeds of $10.2 million. The Company has $39.8 million remaining under the ATM program. In addition, in the third quarter of 2024, we sold 341,997 shares of common stock in a public offering to our pension plan for $10.0 million; and 148,612 shares of common stock, for proceeds of $4.5 million, in a private offering to Matthew V. Crawford, our Chairman of the Board, Chief Executive Officer and President, and to Crawford Capital Enterprises, LLC, an entity controlled by Edward F. Crawford, one of our Board members.