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Earnings Per Common Share | 3 Months Ended
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Mar. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Common Share | 8. EARNINGS PER COMMON SHARE Basic and diluted earnings per common share (“EPS”) amounts are presented on the face of our unaudited Condensed Consolidated Statements of Income (the "Income Statements"). The reconciliation of the basic and diluted EPS denominators related to common shares is included in the following table (in thousands):
|  | Quarter Ended |  |
|  | March 31, 2024 |  |  | March 31, 2023 |  |
Basic weighted-average common shares |  |  | 28,516 |  |  |  | 30,418 |  |
Dilutive effect of restricted common stock |  |  | 281 |  |  |  | 191 |  |
Diluted weighted-average common shares |  |  | 28,797 |  |  |  | 30,609 |  |
The dilutive effect of restricted common stock is computed using the treasury stock method. The dilutive effect of the 2023 Convertible Notes is computed using the if-converted method and will only have an effect in those quarterly periods in which our average stock price exceeds the current effective conversion price. Potentially dilutive common shares related to non-participating unvested restricted stock and stock warrants were excluded from the computation of diluted EPS, as the effect was anti-dilutive, and were not material in any period presented. Stock warrants (see Note 9) will only have a dilutive effect upon vesting in those periods in which our average stock price exceeds the exercise price of $26.68 per warrant.

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