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EARNINGS PER SHARE | 6 Months Ended
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Jun. 30, 2023
EARNINGS PER SHARE |
EARNINGS PER SHARE | NOTE I – EARNINGS PER SHARE ​ The following table sets forth the computation of basic and diluted earnings per common share: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended | ​
​ | ​ | June 30 | ​ | June 30 | ​
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022 |
​ | ​ | (in thousands, except share and per share data) | ​
Basic | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Numerator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income from continuing operations | ​ | $ | 39,600 | ​ | $ | 101,542 | ​ | $ | 58,447 | ​ | $ | 169,550 | ​
Net income from discontinued operations | ​ |  | 843 | ​ |  | 919 | ​ |  | 53,279 | ​ |  | 2,480 | ​
Net income | ​ | $ | 40,443 | ​ | $ | 102,461 | ​ | $ | 111,726 | ​ | $ | 172,030 | ​
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average shares | ​ |  | 24,064,882 | ​ |  | 24,607,362 | ​ |  | 24,175,893 | ​ |  | 24,658,739 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic earnings per common share | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Continuing operations | ​ | $ | 1.65 | ​ | $ | 4.13 | ​ | $ | 2.42 | ​ | $ | 6.88 | ​
Discontinued operations | ​ |  | 0.04 | ​ |  | 0.04 | ​ | ​ | 2.20 | ​ |  | 0.10 | ​
Total basic earnings per common share(1) | ​ | $ | 1.68 | ​ | $ | 4.16 | ​ | $ | 4.62 | ​ | $ | 6.98 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Diluted | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Numerator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income from continuing operations | ​ | $ | 39,600 | ​ | $ | 101,542 | ​ | $ | 58,447 | ​ | $ | 169,550 | ​
Net income from discontinued operations | ​ |  | 843 | ​ |  | 919 | ​ |  | 53,279 | ​ |  | 2,480 | ​
Net income | ​ | $ | 40,443 | ​ | $ | 102,461 | ​ | $ | 111,726 | ​ | $ | 172,030 | ​
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average shares | ​ |  | 24,064,882 | ​ |  | 24,607,362 | ​ |  | 24,175,893 | ​ |  | 24,658,739 | ​
Effect of dilutive securities | ​ |  | 608,066 | ​ |  | 988,669 | ​ |  | 688,798 | ​ |  | 1,097,575 | ​
Adjusted weighted-average shares and assumed conversions | ​ |  | 24,672,948 | ​ |  | 25,596,031 | ​ |  | 24,864,691 | ​ |  | 25,756,314 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Diluted earnings per common share | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Continuing operations | ​ | $ | 1.60 | ​ | $ | 3.97 | ​ | $ | 2.35 | ​ | $ | 6.58 | ​
Discontinued operations | ​ |  | 0.03 | ​ |  | 0.04 | ​ | ​ | 2.14 | ​ |  | 0.10 | ​
Total diluted earnings per common share(1) | ​ | $ | 1.64 | ​ | $ | 4.00 | ​ | $ | 4.49 | ​ | $ | 6.68 | ​
​
(1) | Earnings per common share is calculated in total and may not equal the sum of earnings per common share from continuing operations and discontinued operations due to rounding.

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