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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 following table sets forth the reconciliation of the numerator and the denominator of basic earnings per share and diluted earnings per share for the years ended December 31, 2023, 2022 and 2021 (in thousands, except per share data):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Numerator: |  |  |  |  |
Net income | $ | 120,968 |  |  | $ | 105,354 |  |  | $ | 70,887 |
Denominator: |  |  |  |  |
Basic |  |  |  |  |
Weighted average common shares outstanding | 49,989 |  |  | 51,502 |  |  | 52,637 |
Diluted |  |  |  |  |
Stock options (1) | 172 |  |  | 487 |  |  | 683 |
Restricted stock awards | 98 |  |  | 141 |  |  | 192 |
Contingent shares (2) | 21 |  |  | 14 |  |  | — |
Performance share units (3) | 277 |  |  | 244 |  |  | 211 |
Diluted weighted average common shares outstanding | 50,557 |  |  | 52,388 |  |  | 53,723 |
Earnings Per Share: |  |  |  |  |
Basic earnings per share | $ | 2.42 |  |  | $ | 2.05 |  |  | $ | 1.35 |
Diluted earnings per share | $ | 2.39 |  |  | $ | 2.01 |  |  | $ | 1.32 |
(1)For the years ended December 31, 2023, 2022 and 2021, a total of 58 thousand, 68 thousand and 23 thousand stock based awards, respectively, were excluded from the calculation of diluted earnings per share as their exercise prices would render them anti-dilutive. (2)Contingent shares represent additional shares to be issued for purchase price earned by former owners of businesses acquired by us once future conditions have been met. For further details, refer to Note 18, Business Combinations. (3)The denominator used in calculating diluted earnings per share did not include 0.2 million, 0.2 million and 0.3 million performance share units for the twelve months ended December 31, 2023, 2022 and 2021 respectively. The performance conditions associated with these performance share units were not met and consequently none of these performance share units were considered as issuable for the years ended December 31, 2023, 2022 and 2021.

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