EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2022

Basic earnings per share (“EPS”) computations are calculated utilizing the weighted average number of shares of the Company’s common stock outstanding during the periods presented. Diluted EPS is calculated utilizing the weighted average number of shares of the Company’s common stock outstanding adjusted for the effect of dilutive common stock equivalents.

The following table sets forth the computation of basic and diluted EPS (in thousands, except per share data):


	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021

Numerator:
Net income	$	36,155	$	41,982	$	117,050	$	130,008

Denominator:
Weighted average shares of common stock outstanding	10,964		11,692		11,290		11,739
Effect of dilutive common stock equivalents	78		93		79		101
Weighted average shares of common stock outstanding	11,042		11,785		11,369		11,840

Earnings per share - basic	$	3.30	$	3.59	$	10.37	$	11.07

Earnings per share - diluted	$	3.27	$	3.56	$	10.30	$	10.98

The calculation of diluted EPS excluded 10 thousand and 0 thousand antidilutive restricted stock awards for the three months ended September 30, 2022 and 2021, respectively, and 3 thousand and 0 thousand antidilutive restricted stock awards for the nine months ended September 30, 2022 and 2021, respectively. EPS is computed independently for each of the periods presented above, and accordingly, the sum of the quarterly earnings per common share may not equal the year-to-date total computed.