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EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2024

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE I – EARNINGS PER SHARE

The following table reflects the computation of basic and diluted earnings per common share:


		Three Months Ended						Nine Months Ended
		September 30						September 30
		2024			2023			2024			2023

		(in thousands, except share and per share data)
Basic
Numerator:
Net income from continuing operations		$	100,314		$	34,927		$	144,326		$	93,374
Net income (loss) from discontinued operations			—			(10)			600			53,269
Net income		$	100,314		$	34,917		$	144,926		$	146,643
Denominator:
Weighted-average shares			23,624,761			24,004,255			23,601,548			24,119,449

Basic earnings per common share
Continuing operations		$	4.25		$	1.46		$	6.12		$	3.87
Discontinued operations			—			—			0.03			2.21
Total basic earnings per common share⁽¹⁾		$	4.25		$	1.45		$	6.14		$	6.08

Diluted
Numerator:
Net income from continuing operations		$	100,314		$	34,927		$	144,326		$	93,374
Net income (loss) from discontinued operations			—			(10)			600			53,269
Net income		$	100,314		$	34,917		$	144,926		$	146,643
Denominator:
Weighted-average shares			23,624,761			24,004,255			23,601,548			24,119,449
Effect of dilutive securities			65,359			521,003			321,499			637,544
Adjusted weighted-average shares and assumed conversions			23,690,120			24,525,258			23,923,047			24,756,993

Diluted earnings per common share
Continuing operations		$	4.23		$	1.42		$	6.03		$	3.77
Discontinued operations			—			—			0.03			2.15
Total diluted earnings per common share⁽¹⁾		$	4.23		$	1.42		$	6.06		$	5.92

(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.