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Note 5 - Earnings Per Share | 9 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Earnings Per Share [Text Block] |
5. | EARNINGS PER SHARE
The following table sets forth the calculation of basic and diluted net earnings per common share under the two-class method for the three and nine months ended September 30, 2023 and 2022:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  | $ | 19,448 |  |  | $ | 16,548 |  |  | $ | 61,795 |  |  | $ | 38,649 |
Less dividends declared: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A |  |  | 128 |  |  |  | 128 |  |  |  | 385 |  |  |  | 386 |
Class B |  |  | 745 |  |  |  | 724 |  |  |  | 2,235 |  |  |  | 2,176 |
Undistributed earnings |  | $ | 18,575 |  |  | $ | 15,696 |  |  | $ | 59,175 |  |  | $ | 36,087 |
Undistributed earnings allocation - basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A undistributed earnings |  | $ | 2,989 |  |  | $ | 2,587 |  |  | $ | 9,522 |  |  | $ | 5,941 |
Class B undistributed earnings |  |  | 15,586 |  |  |  | 13,109 |  |  |  | 49,653 |  |  |  | 30,146 |
Total undistributed earnings |  | $ | 18,575 |  |  | $ | 15,696 |  |  | $ | 59,175 |  |  | $ | 36,087 |
Net earnings allocation - basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A net earnings |  | $ | 3,117 |  |  | $ | 2,715 |  |  | $ | 9,907 |  |  | $ | 6,327 |
Class B net earnings |  |  | 16,331 |  |  |  | 13,833 |  |  |  | 51,888 |  |  |  | 32,322 |
Net earnings |  | $ | 19,448 |  |  | $ | 16,548 |  |  | $ | 61,795 |  |  | $ | 38,649 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A - basic and diluted |  |  | 2,142 |  |  |  | 2,142 |  |  |  | 2,142 |  |  |  | 2,144 |
Class B - basic and diluted |  |  | 10,636 |  |  |  | 10,340 |  |  |  | 10,636 |  |  |  | 10,358 |
Net earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A - basic and diluted |  | $ | 1.46 |  |  | $ | 1.27 |  |  | $ | 4.63 |  |  | $ | 2.95 |
Class B - basic and diluted |  | $ | 1.54 |  |  | $ | 1.34 |  |  | $ | 4.88 |  |  | $ | 3.12 |

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