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Earnings Per Share | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | NOTE 18 - EARNINGS PER SHARE The Company’s EPS is computed by dividing reported net income by the weighted-average number of shares outstanding. Diluted EPS considers the potential dilution that could occur if common stock equivalents of stock options, RSUs, and PSAs were exercised or converted into stock. PSAs are included in the computation of diluted shares only to the extent that the underlying performance conditions: (i) are satisfied as of the end of the reporting period or (ii) would be considered satisfied if the end of the reporting period were the end of the related performance period and the result would be dilutive under the treasury stock method. As of December 31, 2024, the PSAs granted during the year ended December 31, 2022 and 2023 met the related performance conditions for the initial performance period and were included in the calculation of diluted EPS; however, the PSAs granted during the year ended December 31, 2024 have not yet completed their initial two-year performance period and therefore were excluded in the calculation of diluted EPS. The dilutive effect of stock options, RSUs, and performance shares for each period reported is summarized below:
|  | 2024 |  |  | 2023 |  |  | 2022 |
Net Income |  | $ | 110,170 |  |  | $ | 82,612 |  |  | $ | 64,243 |
Weighted-average number of basic shares outstanding during the period |  |  | 18,747 |  |  |  | 18,802 |  |  |  | 18,818 |
Dilutive effect of stock options, RSUs, and performance shares |  |  | 178 |  |  |  | 192 |  |  |  | 215 |
Weighted-average number of diluted shares outstanding during the period |  |  | 18,925 |  |  |  | 18,994 |  |  |  | 19,033 |
Basic earnings per share |  | $ | 5.88 |  |  | $ | 4.39 |  |  | $ | 3.41 |
Diluted earnings per share |  | $ | 5.82 |  |  | $ | 4.35 |  |  | $ | 3.38 |

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- Definition 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 + Details
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