XML 39 R27.htm IDEA: XBRL DOCUMENT v3.24.2.u1
EARNINGS PER SHARE (Tables)
6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June 30, 2024 and 2023 (in thousands, except per share data):
Three Months Ended
June 30,
Six Months Ended
June 30,
2024202320242023
Numerator:
Net Income $19,793 $26,863 $96,677 $100,023 
Denominator:
Basic
Weighted average common shares outstanding50,111 49,963 50,079 50,164 
Diluted
Stock options (1)
80 198 77 235 
Restricted stock units and awards (1)
73 79 80 95 
Performance share units — 106 — 106 
Contingent shares (2)
12 39 12 39 
Diluted weighted average common shares
   outstanding (3)
50,276 50,385 50,248 50,639 
Basic earnings per share$0.39 $0.54 $1.93 $1.99 
Diluted earnings per share $0.39 $0.53 $1.92 $1.98 

(1)A total of 9 thousand and 96 thousand shares of stock-based awards were excluded from the calculation of diluted earnings per share for three and six months ended June 30, 2024, respectively, as their effect would be anti-dilutive. A total of 12 thousand and 53 thousand shares of stock-based awards were excluded from the calculation of diluted earnings per share for three and six months ended June 30, 2023, respectively, as their effect would be anti-dilutive.
(2)Contingent shares represent additional shares to be issued for purchase price earned by former owners of businesses acquired by us once future considerations have been met.
(3)The denominator used in calculating diluted earnings per share did not include 254 thousand PSUs for both the three and six months ended June 30, 2024. The denominator used in calculating diluted earnings per share did not include 220 thousand PSUs for both the three and six months ended June 30, 2023.The performance conditions associated with these PSUs were not met and consequently none of these PSUs were considered as issuable for the three and six months ended June 30, 2024 and 2023.