Earnings per share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Summary of Earnings Per Share

Earnings per share have been calculated as follows:

(Expressed in thousands, except number of shares and per share amounts)
	For the Years Ended December 31,
	2021		2020		2019
Basic weighted average number of shares outstanding	12,642,306		12,642,576		12,904,397
Net dilutive effect of share-based awards, treasury method (1)	940,522		574,759		947,435
Diluted weighted average number of shares outstanding	13,582,828		13,217,335		13,851,832
Net income	$	158,964	$	122,986	$	52,953
Earnings per share
Basic	$	12.57	$	9.73	$	4.10
Diluted	$	11.70	$	9.30	$	3.82

 

(1)For the year ended December 31, 2021, there was no Class A Stock granted under share-based compensation arrangements that were anti-dilutive. For the years ended December 31, 2020 and 2019, the diluted net income per share computation did not include the anti-dilutive effect of 10,770 and 7,628 shares of Class A Stock granted under share-based compensation arrangements, respectively.