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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2023
EARNINGS PER SHARE [Abstract]  
EARNINGS PER SHARE
2. EARNINGS PER SHARE

Basic and diluted earnings per share is computed using the two-class method, which is an earnings allocation method that determines earnings per share for common shares and participating securities. The restricted stock the Company grants are participating securities containing non-forfeitable rights to receive dividends. Accordingly, any unvested restricted stock is included in the basic and diluted earnings per share computation. Additionally, in accordance with current accounting guidance, the revaluation of redeemable non-controlling interest (see Note 5 Redeemable Non-Controlling Interest), net of tax, charged directly to retained earnings is included in the earnings per basic and diluted share calculation.

The following table provides a detail of the basic and diluted earnings per share computation.

 
Three Months Ended
    
Nine Months Ended
  
   
September 30, 2023
    
September 30, 2022
    
September 30, 2023
    
September 30, 2022
  
    (In thousands, except per share data)  
Computation of earnings per share - USPH shareholders:
                        
Net income attributable to USPH shareholders
  
$
9,254
    
$
9,557
    
$
27,583
    
$
29,551
  
Charges to retained earnings:
                                
Revaluation of redeemable non-controlling interest
    
(2,242
)
    
(196
)
    
(4,988
)
    
(193
)
Tax effect at statutory rate (federal and state)
    
573
      
50
      
1,274
      
49
  
   
$
7,585
    
$
9,411
    
$
23,869
    
$
29,407
  
                                 
Earnings per share (basic and diluted)
  
$
0.51
    
$
0.72
    
$
1.72
    
$
2.27
  
                                 
Shares used in computation:
                                
    Basic and diluted earnings per share - weighted-average shares
    
14,987
      
13,001
      
13,918
      
12,979