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EARNINGS PER SHARE
9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
Basic net income per share is calculated by dividing net income attributable to Aptar by the weighted-average number of common shares outstanding during the period. Diluted net income per share is calculated by dividing the net income attributable to Aptar by the weighted-average number of common and common equivalent shares outstanding during the applicable period. The difference between basic and diluted earnings per share is attributable to stock-based compensation awards. Stock-based compensation awards for which total employee proceeds exceed the average market price over the applicable period would have an antidilutive effect on earnings per share, and accordingly, are excluded from the calculation of diluted earnings per share. The reconciliation of basic and diluted earnings per share for the three and nine months ended September 30, 2023 and 2022 was as follows:
Three Months Ended
September 30, 2023September 30, 2022
DilutedBasicDilutedBasic
Consolidated operations
Income available to common stockholders$84,296 $84,296 $54,244 $54,244 
Average equivalent shares
Shares of common stock65,707 65,707 65,322 65,322 
Effect of dilutive stock-based compensation
Stock options874 — 884 — 
Restricted stock454 — 375 — 
Total average equivalent shares67,035 65,707 66,581 65,322 
Net income per share$1.26 $1.28 $0.81 $0.83 
Nine Months Ended
September 30, 2023September 30, 2022
DilutedBasicDilutedBasic
Consolidated operations
Income available to common stockholders$222,132 $222,132 $180,292 $180,292 
Average equivalent shares
Shares of common stock65,550 65,550 65,446 65,446 
Effect of dilutive stock-based compensation
Stock options886 1,034 
Restricted stock429 345 
Total average equivalent shares66,865 65,550 66,825 65,446 
Net income per share$3.32 $3.39 $2.70 $2.75