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Earnings Per Share | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The Company computes earnings per share using the treasury stock method. Under the treasury stock method, basic earnings per share attributable to MYR Group Inc. are computed by dividing net income attributable to MYR Group Inc. by the weighted average number of common shares outstanding during the period. Diluted earnings per share attributable to MYR Group Inc. are computed by dividing net income attributable to MYR Group Inc. by the weighted average number of common shares outstanding during the period plus all potentially dilutive common stock equivalents, except in cases where the effect of the common stock equivalent would be anti-dilutive. Net income attributable to MYR Group Inc. and the weighted average number of common shares used to compute basic and diluted earnings per share was as follows:
|  | For the Year ended December 31,
(in thousands, except per share data) |  | 2023 |  | 2022 |  | 2021
Numerator: |  |  |  |  |  |
Net income |  | $ | 90,990 |  |  | $ | 83,381 |  |  | $ | 85,006 |
Less: net loss attributable to noncontrolling interest |  | — |  |  | — |  |  | (4) |
Net income attributable to MYR Group Inc. |  | $ | 90,990 |  |  | $ | 83,381 |  |  | $ | 85,010 |
Denominator: |  |  |  |  |  |
Weighted average common shares outstanding |  | 16,682 |  |  | 16,760 |  |  | 16,838 |
Weighted average dilutive securities |  | 155 |  |  | 220 |  |  | 323 |
Weighted average common shares outstanding, diluted |  | 16,837 |  |  | 16,980 |  |  | 17,161 |
Net income per share attributable to MYR Group Inc.: |  |  |  |  |  |
Basic |  | $ | 5.45 |  |  | $ | 4.98 |  |  | $ | 5.05 |
Diluted |  | $ | 5.40 |  |  | $ | 4.91 |  |  | $ | 4.95 |
For the years ended December 31, 2023, 2022 and 2021, certain common stock equivalents were excluded from the calculation of dilutive securities because their inclusion would have been anti-dilutive. All of the Company’s non-participating unvested restricted shares were included in the computation of weighted average dilutive securities. The following table summarizes the shares of common stock underlying the Company’s unvested performance awards that were excluded from the calculation of dilutive securities:
(in thousands) |  | 2023 |  | 2022 |  | 2021
Performance awards |  | 13 |  |  | 13 |  |  | — |
Share Repurchase Program On November 1, 2023, the Company announced that its Board of Directors had authorized a new $75.0 million share repurchase program (the "Repurchase Program") which became effective on November 9, 2023. The Repurchase Program will expire on May 8, 2024, or when the authorized funds are exhausted, whichever is earlier. The Company’s prior $75.0 million repurchase program that commenced on May 9, 2023 expired on November 8, 2023. During 2023 the Company repurchased 25,042 shares of its common stock under multiple repurchase programs at a weighted-average price of $114.55 per share. All of the shares repurchased were retired. The shares repurchased resulted in no change to authorized shares and an increase to unissued shares. As of December 31, 2023, the Company had $72.5 million of remaining availability to repurchase shares of the Company’s common stock under the Repurchase Program. During 2023 and 2022, the Company repurchased 76,150 and 68,675 shares of stock, respectively, for approximately $7.9 million and $6.8 million, respectively, from its employees to satisfy tax obligations on shares vested under the LTIP. All of the shares repurchased were retired and returned to authorized but unissued stock.

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