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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
Basic earnings per share (“EPS”) is calculated using the average number of shares of common stock outstanding during each period. For the calculation of diluted shares, the Company assumes that restricted stock is outstanding on the date of
vesting, and the Company assumes the issuance of shares from the exercise of stock options using the treasury stock method.
A reconciliation of reported net income to net income used in calculating EPS as well as a reconciliation from basic to diluted shares follows:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
(in thousands)
Net income (loss) (numerator):
Net Income$10,990 $6,141 $46,827 $16,363 
Income attributable to unvested shares(145)(66)(491)(122)
Numerator for basic10,845 6,075 46,336 16,241 
Loss attributable to unvested shares— (8)— (49)
Numerator for dilutive$10,845 $6,067 $46,336 $16,192 
Weighted average shares (denominator):
Basic weighted average shares outstanding103,743106,289103,644106,876
Effect of dilutive securities9914484196
Diluted weighted average shares outstanding103,842106,433103,728107,072
Stock options and unvested restricted stock grants excluded from dilutive calculation because they would be anti-dilutive734530437336