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Note 4 - Earnings Per Share

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

4 – Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share information):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2021				2020				2021				2020
Numerator:
Numerator for basic and diluted earnings per share – Net income available to common shareholders		$	69,399			$	33,939			$	172,776			$	73,862
Denominator:
Denominator for basic earnings per share – weighted average shares outstanding			56,007				55,033				55,882				54,734
Effect of dilutive securities– Employee and director stock options and restricted share awards			1,799				1,410				1,952				1,195
Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions			57,806				56,443				57,834				55,929
Basic earnings per common share		$	1.24			$	0.62			$	3.09			$	1.35
Diluted earnings per common share and common share equivalents		$	1.20			$	0.60			$	2.99			$	1.32

Options to purchase shares of common stock that were outstanding for the three months and nine months ended September 30, 2021 and 2020 that were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive are as follows (in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2021				2020				2021				2020
Weighted average anti-dilutive options			624				1,100				460				1,799

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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