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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2025
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,
2025202420252024
(in thousands)
Net income (numerator):
Net income$1,101 $10,990 $17,212 $46,827 
Income attributable to unvested shares7 (145)(319)(491)
Numerator for basic1,108 10,845 16,893 46,336 
Loss attributable to unvested shares— — — — 
Numerator for dilutive$1,108 $10,845 $16,893 $46,336 
Weighted average shares (denominator):
Basic weighted average shares outstanding104,258103,743103,986103,644
Effect of dilutive securities25992484
Diluted weighted average shares outstanding104,283103,842104,010103,728
Stock options and unvested restricted stock grants excluded from dilutive calculation because they would be antidilutive1,0307341,049437