Common and Common Equivalent Shares

3 Months Ended

Mar. 31, 2024

8. Common and Common Equivalent Shares:

Basic net income per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share is calculated by dividing net income by the weighted average number of common and potential common shares outstanding during the period. Potential common shares consist of outstanding restricted stock and stock options and is calculated using the treasury stock method.

The calculation of shares used in the basic and diluted net income per common share calculation for the three months ended March 31, 2024 and 2023 is as follows (in thousands):


	Three Months Ended March 31,
	2024		2023
Weighted average number of common shares outstanding		82,863		81,894
Weighted average number of dilutive common share equivalents		412		424
Weighted average number of common and common equivalent shares outstanding		83,275		82,318
Antidilutive securities (restricted stock and stock options) not included in the diluted net income per common share calculation		406		1,377