Earnings Per Share

9 Months Ended

Sep. 30, 2022

Earnings per ShareBasic earnings per share is based upon the weighted average common shares outstanding during each year. Diluted earnings per share is based on the basic weighted earnings per share with additional weighted common shares for common stock equivalents. During the three and nine months ended September 30, 2022 and September 30, 2021, we had outstanding restricted shares of common stock to certain of our employees under the Company's 2011 Restricted Stock Award Plan (the "2011 Plan"). We had no outstanding restricted shares of common stock under the Company's 2021 Restricted Stock Award Plan (the "2021 Plan"). A reconciliation of the numerator (net income) and denominator (weighted average number of shares outstanding of the basic and

diluted earnings per share ("EPS")) for the three and nine months ended September 30, 2022 and September 30, 2021 is as follows (in thousands, except per share data):


	Three months ended September 30, 2022
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic EPS	$	24,415	78,937	$	0.31
Effect of restricted stock	—		37
Diluted EPS	$	24,415	78,974	$	0.31


	Three months ended September 30, 2021
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic EPS	$	24,466	79,336	$	0.31
Effect of restricted stock	—		28
Diluted EPS	$	24,466	79,364	$	0.31


	Nine months ended September 30, 2022
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic EPS	$	118,095	78,933	$	1.50
Effect of restricted stock	—		29
Diluted EPS	$	118,095	78,962	$	1.50


	Nine months ended September 30, 2021
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic EPS	$	58,942	79,795	$	0.74
Effect of restricted stock	—		44
Diluted EPS	$	58,942	79,839	$	0.74