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Net Income Per Common Share (Tables)

12 Months Ended

Dec. 31, 2023

Net Income Per Common Share

Schedule of basic and diluted net income per share

Basic and diluted net income per share was as follows (in thousands except per share amounts):

​	​	​	​	​	​	​	​	​	​
​	​
​	For the year ended December 31,
​	2023		​	2022		​	2021		​
Net income	$	91,462		$	100,584		$	56,224	​
Less income allocated to non-controlling interests		(1,727)	​		(560)	​		(363)	​
Less income allocated to participating securities:	​	​	​	​	​	​	​	​	​
Non-forfeitable dividends on participating securities		(587)	​		(531)	​		(458)	​
Income allocated to participating securities		—	​		(49)	​		—	​
Total net income allocated to participating securities		(587)	​		(580)	​		(458)	​
Net income available to common stockholders		89,148	​		99,444	​		55,403	​
Effect of dilutive securities:	​	​	​	​	​	​	​	​	​
Participating securities (1)	​	—	​	​	—	​	​	—	​
Net income for diluted net income per share	$	89,148	​	$	99,444	​	$	55,403	​
​	​	​	​	​	​	​	​	​	​
Shares for basic net income per share		41,272	​		39,894	​		39,156	​
Effect of dilutive securities:	​	​	​	​	​	​	​	​	​
Stock options (1)		—	​		—	​		—	​
Performance-based stock units	​	86	​	​	173	​	​	—	(2)
Participating securities (1)	​	—	​	​	—	​	​	—	​
Total effect of dilutive securities		86	​		173	​		—	​
Shares for diluted net income per share		41,358	​		40,067	​		39,156	​
​	​	​	​	​	​	​	​	​	​
Basic net income per share	$	2.16	​	$	2.49	​	$	1.41	​
Diluted net income per share	$	2.16	​	$	2.48	​	$	1.41	​

(1) For the years ended December 31, 2023, 2022 and 2021, the participating securities and stock options were excluded from the computation of diluted net income per share as such inclusion would be anti-dilutive.

​

(2) For the year ended December 31, 2021, no performance-based stock units would be earned based on TSR targets.

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- References

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

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