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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2025
EARNINGS PER SHARE  
EARNINGS PER SHARE

8.    EARNINGS PER SHARE

Basic and diluted earnings per share are computed by dividing net income by the weighted average number of shares outstanding during the respective periods. In addition, the Company has periodically issued share-based payment awards that contain non-forfeitable rights to dividends and are therefore considered participating securities. The following table shows the

restricted shares of common stock and Stock consideration issued to the Seller as part of Pintail acquisition (participating securities) outstanding and a reconciliation of outstanding weighted average shares:

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Three months ended

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Nine months ended

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September 30, 

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September 30, 

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2025

    

2024

    

2025

    

2024

(in thousands)

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Net income available for stockholders

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$

12,963

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$

18,796

​

$

35,141

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$

78,682

Less: Adjustments for earnings attributable to participating securities

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(489)

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(308)

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(986)

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(1,219)

Net income used in calculating earnings per share

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$

12,474

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$

18,488

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$

34,155

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$

77,463

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Weighted average shares outstanding (including participating securities)

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220,575

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214,976

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218,959

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214,940

Adjustment for participating securities

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(8,331)

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(3,728)

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(4,054)

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(3,341)

Shares used in calculating basic and diluted earnings per share

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212,244

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211,248

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214,905

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211,599

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