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Earnings Per Common Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Earnings Per Common Share | NOTE 9. — EARNINGS PER COMMON SHARE Basic and diluted earnings per common share gives effect, utilizing the two-class method, to the potential dilution from the issuance of shares of our common stock in settlement of RSUs which provide for non-forfeitable dividend equivalents equal to the dividends declared per common share. Basic and diluted earnings per common share is computed by dividing net earnings less dividend equivalents attributable to RSUs by the weighted average number of common shares outstanding during the period. The following table is a reconciliation of the numerator and denominator used in the computation of basic and diluted earnings per common share using the two-class method (in thousands except per share data):
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Net earnings |  | $ | 15,335 |  |  | $ | 16,033 |  |  | $ | 48,769 |  |  | $ | 43,639 |
Less earnings attributable to RSUs outstanding |  |  | (664 | ) |  |  | (546 | ) |  |  | (1,992 | ) |  |  | (1,639 | )
Net earnings attributable to common stockholders used in basic and diluted earnings per share calculation |  |  | 14,671 |  |  |  | 15,487 |  |  |  | 46,777 |  |  |  | 42,000 |
Weighted average common shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 54,249 |  |  |  | 50,621 |  |  |  | 54,064 |  |  |  | 49,088 |
Incremental shares from stock-based compensation |  |  | 107 |  |  |  | 91 |  |  |  | 77 |  |  |  | 49 |
Incremental shares from ATM Program forward agreements |  |  | 92 |  |  |  | — |  |  |  | 10 |  |  |  | 124 |
Incremental shares from the Forward Equity Offering |  |  | 171 |  |  |  | — |  |  |  | 43 |  |  |  | 40 |
Diluted |  |  | 54,619 |  |  |  | 50,712 |  |  |  | 54,194 |  |  |  | 49,301 |
Basic earnings per common share |  | $ | 0.27 |  |  | $ | 0.31 |  |  | $ | 0.87 |  |  | $ | 0.86 |
Diluted earnings per common share |  | $ | 0.27 |  |  | $ | 0.31 |  |  | $ | 0.86 |  |  | $ | 0.85 |

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