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EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2023

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 4. EARNINGS PER SHARE

​

Basic earnings per share is computed by dividing reported net earnings by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect the additional dilution for all potentially dilutive securities such as stock options. The following is a reconciliation of the number of shares (denominator) used in the basic and diluted earnings per share computations (shares in thousands):

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​	​	​	​	​	​	​	​	​	​	​	​
​	​	Three months ended September 30,									​
​	​	2023				​	2022				​
​	​	​	​	​	Per Share	​	​	​	​	Per Share	​
​		Shares	​	​	Amount	​	Shares		​	Amount	​
Basic		19,252	​	$	1.26	​	18,999		$	1.45	​
Effect of dilutive stock options		356	​		(0.03)	​	504	​		(0.04)	​
Diluted		19,608	​	$	1.23	​	19,503		$	1.41	​

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	Nine months ended September 30,									​
​	​	2023				​	2022				​
​	​	​	​	​	Per Share	​	​	​	​	Per Share	​
​		Shares		​	Amount		Shares		​	Amount	​
Basic		19,237		$	3.34		18,952		$	3.43	​
Effect of dilutive stock options		390	​		(0.07)		607	​		(0.10)	​
Diluted		19,627		$	3.27		19,559		$	3.33	​

​

Excluded from the computation of diluted earnings per share are options where the exercise prices are greater than the weighted assumed proceeds per share as their effects would be anti-dilutive in the computation of diluted earnings per share. For the three months ended September 30, 2023 and 2022, options for approximately 749 thousand and 592 thousand shares, respectively, were excluded from the computation. For the nine months ended September 30, 2023 and 2022, options for approximately 617 thousand and 538 thousand shares, respectively, were excluded from the computation.

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//260/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-3

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