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Note 5 - Earnings Per Share | 9 Months Ended
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Sep. 30, 2024
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, 2024 and 2023:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  | $ | 8,080 |  |  | $ | 19,448 |  |  | $ | 42,760 |  |  | $ | 61,795 |
Less dividends declared: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A |  |  | 125 |  |  |  | 128 |  |  |  | 381 |  |  |  | 385 |
Class B |  |  | 715 |  |  |  | 745 |  |  |  | 2,190 |  |  |  | 2,235 |
Undistributed earnings |  | $ | 7,240 |  |  | $ | 18,575 |  |  | $ | 40,189 |  |  | $ | 59,175 |
Undistributed earnings allocation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A undistributed earnings |  | $ | 1,172 |  |  | $ | 2,989 |  |  | $ | 6,491 |  |  | $ | 9,522 |
Class B undistributed earnings |  |  | 6,068 |  |  |  | 15,586 |  |  |  | 33,698 |  |  |  | 49,653 |
Total undistributed earnings |  | $ | 7,240 |  |  | $ | 18,575 |  |  | $ | 40,189 |  |  | $ | 59,175 |
Net earnings allocation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A net earnings |  | $ | 1,297 |  |  | $ | 3,117 |  |  | $ | 6,872 |  |  | $ | 9,907 |
Class B net earnings |  |  | 6,783 |  |  |  | 16,331 |  |  |  | 35,888 |  |  |  | 51,888 |
Net earnings |  | $ | 8,080 |  |  | $ | 19,448 |  |  | $ | 42,760 |  |  | $ | 61,795 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A |  |  | 2,116 |  |  |  | 2,142 |  |  |  | 2,126 |  |  |  | 2,142 |
Class B |  |  | 10,434 |  |  |  | 10,636 |  |  |  | 10,512 |  |  |  | 10,636 |
Net earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A |  | $ | 0.61 |  |  | $ | 1.46 |  |  | $ | 3.23 |  |  | $ | 4.63 |
Class B |  | $ | 0.65 |  |  | $ | 1.54 |  |  | $ | 3.41 |  |  | $ | 4.88 |

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