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Earnings per share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table presents the computation of earnings per share for the periods shown below (in thousands, except share and per share amounts):

	Three months ended June 30,								Six months ended June 30,
	2024				2023				2024				2023
Net income	$	33,277			$	29,556			$	61,417			$	60,295
Less net income attributable to non-controlling interest		26,605				23,588				48,421				47,483
Net income attributable to shareholders – basic and diluted	$	6,672			$	5,968			$	12,996			$	12,812
Weighted average shares outstanding – basic		25,175,057				26,254,167				25,668,374				26,254,167
Dilutive effect of unvested restricted common stock		104,615				11,884				53,115				17,454
Dilutive effect of unvested performance units		58,395				261				25,656				1,269
Weighted average shares outstanding – diluted		25,338,067				26,266,312				25,747,145				26,272,890
Earnings per share
Basic	$	0.27			$	0.23			$	0.51			$	0.49
Diluted	$	0.26			$	0.23			$	0.50			$	0.49

Schedule of Common stock shares equivalent excluded from the calculation of diluted earnings per share

The following table presents the common stock share equivalents excluded from the calculation of diluted earnings per share for the periods shown below, as they would have had an antidilutive effect:

	Three months ended June 30,								Six months ended June 30,
	2024				2023				2024				2023
Restricted common stock		26,031				404				11,610				508
Performance stock units		—				1,156				—				—
Class B Common Stock		82,021,389				82,021,389				82,021,389				82,021,389

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- References

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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- Definition

Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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