Earnings Per Share

12 Months Ended

Dec. 31, 2022

The following table sets forth the computation of basic and diluted earnings per share:


(in thousands, except per share amounts)	2022		2021		2020
Numerator:
Net income as reported	$	373,306	$	283,806	$	129,986

Denominator:
Weighted average shares outstanding
Basic	24,734		24,603		24,371
Effect of dilutive securities	252		329		221
Diluted	24,986		24,932		24,592

Earnings Per Share:
Basic earnings per share	$	15.09	$	11.54	$	5.33
Diluted earnings per share	$	14.94	$	11.38	$	5.29

Potential shares of common stock attributable to stock options and restricted shares excluded from the earnings per share calculation because their effect would be anti-dilutive were 87,425, 20,139, and 222,526 shares in 2022, 2021, and 2020, respectively.

During the fiscal year 2022 and 2021, the Company did not repurchase any shares of its common stock. During the fiscal year 2020, the Company repurchased 175,110 shares of its common stock totaling $22.9 million. See Note 12 Stock-Based Compensation for further discussion.