XML 25 R15.htm IDEA: XBRL DOCUMENT v3.22.2.2
Earnings Per Share
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
We had 33,070 shares of nonvested restricted stock at September 30, 2022 and 26,618 shares of nonvested restricted stock at September 30, 2021 that were excluded from the calculation of diluted earnings per share, as their effect on earnings per share would be anti-dilutive.
The nonvested restricted stock is considered a participating security since the restricted stock contains nonforfeitable rights to dividends. As such, we use the two-class method to compute basic and diluted earnings per share for all periods presented since this method yields the most dilutive result. The following table illustrates the earnings allocation method utilized in the calculation of basic and diluted earnings per share.
Third Quarter Ended
September 30,
Nine Months Ended
September 30,
(in thousands, except per-share amounts)2022202120222021
Earnings per share numerator:
Net income attributable to common shareholders before allocation of earnings to participating securities
$63,226 $52,038 $189,016 $173,702 
Earnings allocated to participating securities
207 129 575 412 
Net income attributable to common shareholders after allocation of earnings to participating securities
$63,019 $51,909 $188,441 $173,290 
Earnings per share denominator:
Weighted-average number of shares of common stock outstanding - basic and diluted
9,965 10,821 10,130 10,875 
Earnings per share - basic and diluted$6.32 $4.80 $18.60 $15.94