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Computation of Earnings Per Share | 9 Months Ended
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Sep. 30, 2021
Earnings Per Share [Abstract] |
Computation of Earnings Per Share | NOTE G – COMPUTATION OF EARNINGS PER SHARE Basic earnings per share were computed by dividing Net income by the weighted-average number of common shares outstanding for each respective period. Diluted earnings per share were calculated by dividing Net income by the weighted-average of all potentially dilutive common stock that was outstanding during the periods presented. The calculation of basic and diluted earnings per share for the three and nine-month periods ended September 30, 2021 and 2020 was as follows:
|  | Three Months Ended September 30 |  |  | Nine Months Ended September 30 |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Numerator |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 10,708 |  |  | $ | 12,954 |  |  | $ | 26,755 |  |  | $ | 27,133 |
Denominator |  |  |  |  |  |  |  |  |  |  |  |
Determination of shares |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding |  |  | 4,900 |  |  |  | 4,917 |  |  |  | 4,909 |  |  |  | 4,963 |
Dilutive effect - share-based awards |  |  | 75 |  |  |  | 94 |  |  |  | 41 |  |  |  | 35 |
Diluted weighted-average common shares outstanding |  |  | 4,975 |  |  |  | 5,011 |  |  |  | 4,950 |  |  |  | 4,998 |
Earnings per common share |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 2.19 |  |  | $ | 2.63 |  |  | $ | 5.45 |  |  | $ | 5.47 |
Diluted |  | $ | 2.15 |  |  | $ | 2.59 |  |  | $ | 5.40 |  |  | $ | 5.43 |
For both the three and nine-month periods ended September 30, 2021, 13,000 stock options were excluded from the calculation of diluted earnings per share as the effect would have been anti-dilutive. For the three and nine-month periods ended September 30, 2020, 45,500 and 35,364 stock options, respectively, were excluded from the calculation of diluted earnings per share as the effect would have been anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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