Earnings Per Share

3 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Earnings per Share

8. Earnings per Share

The following data shows the amounts used in computing earnings per share and the effect on earnings and the weighted average number of shares of dilutive potential common shares.

	Three months ended June 30,
(In thousands, except per share data)	2024		2023
Numerator:
Net income	$	14,106	$	1,548
Series A convertible preferred stock dividends		—		(459	)
Net income attributable to common shareholders	$	14,106	$	1,089
Denominator:
Weighted average shares outstanding - basic		27,134		24,936
Dilutive SSARs		710		1,008
Dilutive unvested restricted shares		270		231
Dilutive unvested restricted stock units		13		2
Weighted average shares outstanding - diluted		28,127		26,177
Income per share - basic:	$	0.52	$	0.04
Income per share - diluted:	$	0.50	$	0.04
Anti-dilutive SSARs, restricted shares,    performance shares and preferred shares		7		1,735

Basic income per share is computed as net income attributable to common shareholders divided by the weighted average basic shares outstanding. The outstanding shares used to calculate the weighted average basic shares excludes 367,271 and 339,956 of restricted shares at June 30, 2024 and 2023, respectively, as these shares were issued but were not vested and therefore, not considered outstanding for purposes of computing basic income per share at the balance sheet dates.

Diluted income per share includes the impact of all potentially dilutive securities on earnings per share. We have stock-settled appreciation rights (SSARs), restricted shares, restricted stock units, and preferred shares that are potentially dilutive securities.