Earnings Per Share

9 Months Ended

Sep. 30, 2024

4. Earnings per Share

Earnings per share (“EPS”) are computed using the weighted average number of shares of capital stock outstanding. Earnings and diluted earnings per share are computed as follows (in thousands, except per share data):


			Net Income
For the Three Months Ended September 30,		Income		Shares	Earnings per Share
2024
	Earnings	$	75,776	15,025	$	5.04
	Dilutive stock options		-	99
	Nonvested stock awards		-	44
	Diluted earnings	$	75,776	15,168	$	5.00

2023
	Earnings	$	74,958	15,075	$	4.97
	Dilutive stock options		-	82
	Nonvested stock awards		-	43
	Diluted earnings	$	74,958	15,200	$	4.93


			Net Income
For the Nine Months Ended September 30,		Income		Shares	Earnings per Share
2024
	Earnings	$	211,680	15,082	$	14.04
	Dilutive stock options		-	122
	Nonvested stock awards		-	49
	Diluted earnings	$	211,680	15,253	$	13.88

2023
	Earnings	$	182,456	15,034	$	12.14
	Dilutive stock options		-	98
	Nonvested stock awards		-	46
	Diluted earnings	$	182,456	15,178	$	12.02

For the three and nine months ended September 30, 2024, there were 307,000 and 302,000, respectively, stock options excluded from the computation of dilutive earnings per share because they would have been anti-dilutive.

For the three and nine months ended September 30, 2023, there were 309,000 stock options excluded from the computation of dilutive earnings per share because they would have been anti-dilutive.