XML 42 R25.htm IDEA: XBRL DOCUMENT v3.24.0.1
EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
Basic earnings per share is computed by dividing net income attributable to our stockholders by the weighted average number of shares of common stock and vested deferred stock units outstanding during the year. The computation of diluted earnings per share is similar to the computation of basic earnings per share, except that the denominator is increased for the assumed exercise of dilutive options and assumed issuance of unvested restricted stock units and unvested deferred stock units using the treasury stock method unless the effect is anti-dilutive. The treasury stock method assumes that proceeds, including cash received from the exercise of employee stock options and the total unrecognized compensation expense for unvested share-based compensation awards, would be used to purchase our common stock at the average market price during the period. Vested deferred stock units outstanding are included in shares outstanding for basic and diluted earnings per share because the associated shares of our common stock are issuable for no cash consideration, the number of shares of our common stock to be issued is fixed, and issuance is not contingent. Refer to “Note 5. Share-Based Compensation” for additional information regarding deferred stock units.
The following is a reconciliation of weighted average shares outstanding for basic and diluted earnings per share:
(in thousands)For the Years Ended December 31,
202320222021
   
Shares outstanding for basic earnings per share:83,066 83,623 85,200 
Shares outstanding for diluted earnings per share:
Shares outstanding for basic earnings per share83,066 83,623 85,200 
Dilutive effect of share-based payment awards912 977 1,372 
83,978 84,600 86,572 

Certain awards and options to acquire shares have been excluded from the calculation of shares outstanding for diluted earnings per share because they were anti-dilutive. The following table presents information concerning those anti-dilutive awards and options:
(in thousands)For the Years Ended December 31,
202320222021
   
Weighted average number of shares underlying anti-dilutive options381 263 121 
Weighted average number of shares underlying anti-dilutive awards1 46 —