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EARNINGS PER SHARE | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated based on the combined weighted average number of common shares and potentially dilutive shares, which include the assumed exercise of employee stock options, unvested restricted stock awards, unvested restricted stock units and unvested performance stock units, including market-based performance units based on the expected achievement of performance targets. In computing diluted earnings per share, we utilize the treasury stock method. A summary of the numerator and denominators used in the computation of earnings per share follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Numerator: |  |  |  |  |  |  |
Net income | $ | 5,771 |  |  | $ | 18,172 |  |  | $ | 8,660 |  |  | $ | 27,210 |
Denominators: |  |  |  |  |  |  |
Number of shares outstanding, end of period: |  |  |  |  |  |  |
Class A common stock | 62,325 |  |  | 56,994 |  |  | 62,325 |  |  | 56,994 |
Class B common stock | 988 |  |  | 988 |  |  | 988 |  |  | 988 |
Effect of weighted average shares outstanding (1) | (4,505) |  |  | (20) |  |  | (4,995) |  |  | (3,754) |
Basic weighted average common shares outstanding | 58,808 |  |  | 57,962 |  |  | 58,318 |  |  | 54,228 |
Impact of potentially dilutive securities: |  |  |  |  |  |  |
Dilutive effect of stock options and other stock awards | 113 |  |  | 100 |  |  | 97 |  |  | 97 |
Diluted weighted average common shares outstanding | 58,921 |  |  | 58,062 |  |  | 58,415 |  |  | 54,325 |
Anti-dilutive potentially issuable shares | 7 |  |  | 78 |  |  | 24 |  |  | 75 |
(1)Adjustments associated with the timing of 5,175 shares of Class A common stock issued as part of the public offering, completed on September 19, 2024, and 6,053 shares of Class A common stock issued as part of the public offering, completed on June 16, 2023. See Note 9, Stockholders’ Equity for disclosure regarding the public offering of Class A common stock completed September 19, 2024.

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