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Earnings per Share (Tables) | 9 Months Ended
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Sep. 30, 2024
Earnings per Share |
Schedule of basic and diluted net income per share | The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share amounts):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended | ​
​ | ​ | September 30, | ​ | September 30, | ​
​ | ​ | 2024 | ​ | 2023 | ​ | 2024 | ​ | 2023 | ​
Net income | ​ | $ | 30,862 | ​ | $ | 22,627 | ​ | $ | 75,289 | ​ | $ | 62,792 | ​
Less income allocated to non-controlling interests | ​ |  | (1,496) | ​ |  | (430) | ​ |  | (2,332) | ​ |  | (1,287) | ​
Less income allocated to participating securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-forfeitable dividends on participating securities | ​ | ​ | (173) | ​ | ​ | (147) | ​ | ​ | (511) | ​ | ​ | (440) | ​
Income allocated to participating securities | ​ | ​ | (28) | (1) | ​ | — | ​ | ​ | — | (1) | ​ | — | ​
Total net income allocated to participating securities | ​ | ​ | (201) | ​ | ​ | (147) | ​ | ​ | (511) | ​ | ​ | (440) | ​
Net income available to common stockholders | ​ | ​ | 29,165 | ​ | ​ | 22,050 | ​ | ​ | 72,446 | ​ | ​ | 61,065 | ​
Effect of dilutive securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Participating securities (2) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​
Net income for diluted net income per share | ​ | $ | 29,165 | ​ | $ | 22,050 | ​ | $ | 72,446 | ​ | $ | 61,065 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shares for basic net income per share | ​ | ​ | 43,868 | ​ | ​ | 41,153 | ​ | ​ | 43,313 | ​ | ​ | 41,127 | ​
Effect of dilutive securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Stock options (2) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​
Performance-based stock units | ​ | ​ | 526 | ​ | ​ | 58 | ​ | ​ | 526 | ​ | ​ | 58 | ​
Participating securities (2) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​
Total effect of dilutive securities | ​ | ​ | 526 | ​ | ​ | 58 | ​ | ​ | 526 | ​ | ​ | 58 | ​
Shares for diluted net income per share | ​ | ​ | 44,394 | ​ | ​ | 41,211 | ​ | ​ | 43,839 | ​ | ​ | 41,185 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic net income per share | ​ | $ | 0.66 | ​ | $ | 0.54 | ​ | $ | 1.67 | ​ | $ | 1.48 | ​
Diluted net income per share | ​ | $ | 0.66 | ​ | $ | 0.54 | ​ | $ | 1.65 | ​ | $ | 1.48 | ​
(1) | The computation of the net income per share for the three and nine months ended September 30, 2024 and 2023 are made independently. Therefore, the sum of the quarters may not agree with the amounts for the year-to-date periods.
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(2) | For the three and nine months ended September 30, 2024 and 2023, the participating securities and stock options were excluded from the computation of diluted net income per share as such inclusion would be anti-dilutive.

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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 + Details
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