Earnings Per Share

6 Months Ended

Jun. 30, 2023

Earnings per Share

Basic 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 six months ended June 30, 2023 and June 30, 2022, we had outstanding restricted shares of common stock to certain of our employees and directors, under the Company's restricted stock award plans. 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 six months ended June 30, 2023 and June 30, 2022 is as follows (in thousands, except per share data):


	Three months ended June 30, 2023
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic EPS	$	7,771	78,999	$	0.10
Effect of restricted stock	—		82
Diluted EPS	$	7,771	79,081	$	0.10


	Three months ended June 30, 2022
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic EPS	$	76,906	78,934	$	0.97
Effect of restricted stock	—		25
Diluted EPS	$	76,906	78,959	$	0.97


	Six months ended June 30, 2023
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic EPS	$	20,383	78,993	$	0.26
Effect of restricted stock	—		59
Diluted EPS	$	20,383	79,052	$	0.26


	Six months ended June 30, 2022
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic EPS	$	93,681	78,931	$	1.19
Effect of restricted stock	—		25
Diluted EPS	$	93,681	78,956	$	1.19