EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2022

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE J – EARNINGS PER SHARE

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

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2022		2021		2022		2021
	(in thousands, except share and per share data)
Basic
Numerator:
Net income	$	88,842	$	63,691	$	260,872	$	148,033
Denominator:
Weighted-average shares		24,605,228		25,632,805		24,640,706		25,559,642
Earnings per common share	$	3.61	$	2.48	$	10.59	$	5.79
Diluted
Numerator:
Net income	$	88,842	$	63,691	$	260,872	$	148,033
Denominator:
Weighted-average shares		24,605,228		25,632,805		24,640,706		25,559,642
Effect of dilutive securities		767,527		1,137,341		985,519		1,312,739
Adjusted weighted-average shares and assumed conversions		25,372,755		26,770,146		25,626,225		26,872,381
Earnings per common share	$	3.50	$	2.38	$	10.18	$	5.51