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EARNINGS PER SHARE | 9 Months Ended
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Sep. 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 | ​ | Nine Months Ended | ​
​ | ​ | September 30 | ​ | September 30 | ​
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022 |
​ | ​ | (in thousands, except share and per share data) | ​
Basic | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Numerator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income from continuing operations | ​ | $ | 34,927 | ​ | $ | 88,613 | ​ | $ | 93,374 | ​ | $ | 258,163 | ​
Net income (loss) from discontinued operations | ​ |  | (10) | ​ |  | 229 | ​ |  | 53,269 | ​ |  | 2,709 | ​
Net income | ​ | $ | 34,917 | ​ | $ | 88,842 | ​ | $ | 146,643 | ​ | $ | 260,872 | ​
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average shares | ​ |  | 24,004,255 | ​ |  | 24,605,228 | ​ |  | 24,119,449 | ​ |  | 24,640,706 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic earnings per common share | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Continuing operations | ​ | $ | 1.46 | ​ | $ | 3.60 | ​ | $ | 3.87 | ​ | $ | 10.48 | ​
Discontinued operations | ​ |  | — | ​ |  | 0.01 | ​ | ​ | 2.21 | ​ |  | 0.11 | ​
Total basic earnings per common share(1) | ​ | $ | 1.45 | ​ | $ | 3.61 | ​ | $ | 6.08 | ​ | $ | 10.59 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Diluted | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Numerator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income from continuing operations | ​ | $ | 34,927 | ​ | $ | 88,613 | ​ | $ | 93,374 | ​ | $ | 258,163 | ​
Net income (loss) from discontinued operations | ​ |  | (10) | ​ |  | 229 | ​ |  | 53,269 | ​ |  | 2,709 | ​
Net income | ​ | $ | 34,917 | ​ | $ | 88,842 | ​ | $ | 146,643 | ​ | $ | 260,872 | ​
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average shares | ​ |  | 24,004,255 | ​ |  | 24,605,228 | ​ |  | 24,119,449 | ​ |  | 24,640,706 | ​
Effect of dilutive securities | ​ |  | 521,003 | ​ |  | 767,527 | ​ |  | 637,544 | ​ |  | 985,519 | ​
Adjusted weighted-average shares and assumed conversions | ​ |  | 24,525,258 | ​ |  | 25,372,755 | ​ |  | 24,756,993 | ​ |  | 25,626,225 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Diluted earnings per common share | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Continuing operations | ​ | $ | 1.42 | ​ | $ | 3.49 | ​ | $ | 3.77 | ​ | $ | 10.07 | ​
Discontinued operations | ​ |  | — | ​ |  | 0.01 | ​ | ​ | 2.15 | ​ |  | 0.11 | ​
Total diluted earnings per common share(1) | ​ | $ | 1.42 | ​ | $ | 3.50 | ​ | $ | 5.92 | ​ | $ | 10.18 | ​
​
(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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