XML 41 R35.htm IDEA: XBRL DOCUMENT v3.25.2
Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Computations of Basic and Diluted Earnings Per Share

Below are the computations of basic and diluted earnings per share for the three and six months ended June 30, 2025 and 2024:

(In thousands, except per share amounts)

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Computation of Basic Earnings per Share

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

11,341

 

 

$

9,521

 

 

$

31,052

 

 

$

23,414

 

Weighted-average number of common shares
   outstanding

 

 

22,865

 

 

 

22,827

 

 

 

22,866

 

 

 

22,825

 

Basic earnings per share

 

$

0.50

 

 

$

0.42

 

 

$

1.36

 

 

$

1.03

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Computation of Diluted Earnings per Share

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

11,341

 

 

$

9,521

 

 

$

31,052

 

 

$

23,414

 

Weighted-average number of shares outstanding

 

 

22,865

 

 

 

22,827

 

 

 

22,866

 

 

 

22,825

 

Add weighted-average net shares from assumed
   exercise of options (under treasury stock method)(1)

 

 

7

 

 

 

34

 

 

 

10

 

 

 

41

 

Add weighted-average net shares related to unvested
   stock awards (under treasury stock method)

 

 

2

 

 

 

8

 

 

 

2

 

 

 

6

 

Add weighted-average net shares from assumed
   exercise of SARs (under treasury stock method)(1)

 

 

5

 

 

 

45

 

 

 

7

 

 

 

49

 

Add weighted-average contingently issuable net
  shares related to performance stock awards
  (under treasury stock method)

 

 

—

 

 

 

22

 

 

 

—

 

 

 

21

 

Weighted-average shares applicable to diluted
   earnings

 

 

22,879

 

 

 

22,936

 

 

 

22,885

 

 

 

22,942

 

Diluted earnings per share

 

$

0.50

 

 

$

0.42

 

 

$

1.36

 

 

$

1.02

 

 

 

(1)
Options/SARs to acquire 1,205,183 and 1,209,553 shares of the Company's common stock were excluded from the computation of dilutive earnings per share for the three and six months ended June 30, 2025, respectively. The options/SARs' exercise prices were greater than the average market price for the Company's common stock and inclusion of the instruments would have had an antidilutive effect on the computations of the earnings per share. 899,151 and 849,588 options/SARs to acquire shares of the Company's common stock were excluded from the computation of dilutive earnings per share for the three and six months ended June 30, 2024, respectively.