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Net Income Per Common Share

6 Months Ended

Jun. 30, 2024

Net Income Per Common Share

Net Income Per Common Share

4. Net Income Per Common Share

Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per common share reflects the assumed conversion of all potentially dilutive securities, consisting of restricted stock awards, for which the estimated fair value exceeds the exercise price, less shares which could have been purchased with the related proceeds, unless anti-dilutive. For employee equity awards, repurchased shares are also included for any unearned compensation adjusted for tax. The table below reflects the calculation of the weighted average number of common shares outstanding, on an as if converted basis, used in computing basic and diluted earnings per common share.

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​	​	​	​	​	​	​	​	​	​
​	​	​	Three Months Ended			​	Six Months Ended
​	​	​	June 30,			​	June 30,
​			2024		2023		2024		2023
Denominator:
Basic weighted average shares outstanding			29,285		30,183		29,372		30,321
Effect of dilutive stock options and restricted stock			130		104		155		141
Diluted weighted average shares outstanding			29,415		30,287		29,527		30,462

​

Diluted weighted average shares outstanding excludes the incremental effect of unvested restricted stock in accordance with the treasury stock method. For the three-month periods ended June 30, 2024 and 2023, approximately nil and 107, respectively, and for the six-month periods ended June 30, 2024 and 2023, approximately 39 and 103, respectively, of the Company’s restricted stock awards outstanding were excluded from the calculation of diluted

earnings per share as their inclusion would have been anti-dilutive. These restricted stock awards could be dilutive in the future.

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- 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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