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Earnings Per Share

6 Months Ended

Jun. 30, 2023

Earnings Per Share

Earnings Per Share

Note 2. Earnings Per Share

Basic earnings per share is based on the weighted average shares of common stock outstanding during the period. Diluted earnings per share assumes the weighted average dilutive effect of common share equivalents outstanding during the period applied to the company’s basic earnings per share. Common share equivalents represent potentially dilutive restricted stock units, deferred stock units, restricted stock, and performance awards, and are excluded from the computation in periods in which they have an anti-dilutive effect. There were no anti-dilutive common share equivalents as of or for the three and six-month periods ended June 30, 2023 and 2022.

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Note 2. Earnings Per Share (Continued)

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Three-Month Periods Ended June 30,

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2023

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2022

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Weighted

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Weighted

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Average

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Average

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Net Income

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Shares

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Per Share

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Net Income

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Shares

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Per Share

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(Numerator)

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(Denominator)

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Amount

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(Numerator)

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(Denominator)

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Amount

Basic earnings per share

$

812,107

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168,009

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$

4.83

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$

1,209,554

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186,442

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$

6.49

Dilutive common share equivalents

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-

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856

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-

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1,298

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Diluted earnings per share

$

812,107

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168,865

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$

4.81

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$

1,209,554

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187,740

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$

6.44

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Six-Month Periods Ended June 30,

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2023

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2022

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Weighted

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Weighted

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Average

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Average

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Net Income

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Shares

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Per Share

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Net Income

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Shares

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Per Share

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(Numerator)

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(Denominator)

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Amount

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(Numerator)

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(Denominator)

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Amount

Basic earnings per share

$

1,449,417

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169,803

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$

8.54

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$

2,313,485

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189,300

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$

12.22

Dilutive common share equivalents

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-

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869

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-

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1,191

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Diluted earnings per share

$

1,449,417

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170,672

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$

8.49

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$

2,313,485

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190,491

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$

12.14

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X

- References

No definition available.

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//260/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-3

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