Common and Common Equivalent Shares

9 Months Ended

Sep. 30, 2023

7. Common and Common Equivalent Shares:

Basic net income per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share is calculated by dividing net income by the weighted average number of common and potential common shares outstanding during the period. Potential common shares consist of outstanding restricted stock and stock options and is calculated using the treasury stock method.

The calculation of shares used in the basic and diluted net income per common share calculation for the three and nine months ended September 30, 2023 and 2022 is as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Weighted average number of common shares outstanding		82,543		82,126		82,127		84,122
Weighted average number of dilutive common share equivalents		407		650		365		699
Weighted average number of common and common equivalent shares outstanding		82,950		82,776		82,492		84,821
Antidilutive securities (restricted stock and stock options) not included in the diluted net income per common share calculation		888		1		1,201		273