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Earnings Per Share | 3 Months Ended
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Mar. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | Note 10 – Earnings Per Sh are Earnings per share ("EPS") is calculated under the two-class method. Under the two-class method, all earnings (distributed and undistributed) are allocated to common stock and participating securities. The Company grants restricted stock awards to certain employees under its share-based compensation program, which entitle recipients to receive nonforfeitable dividends during the vesting period on a basis equivalent to the dividends paid to holders of common stock. These unvested restricted stock awards meet the definition of participating securities based on their respective rights to receive nonforfeitable dividends. Diluted EPS incorporates the potential impact of contingently issuable shares. Diluted EPS is calculated under both the two-class and treasury stock methods, and the more dilutive amount is reported. Performance stock units ("PSUs") and unvested restricted stock awards are contingently issuable common shares and are included in diluted EPS if the effect is dilutive. The following table presents the calculation of basic and diluted EPS (in thousands, except per share amounts):
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
Basic earnings per share |  |  |  |  |  |
Net income attributable to the Company |  | $ | 50 |  |  | $ | 2,259 |
Less: Earnings allocable to unvested restricted stock |  |  | (259 | ) |  |  | (280 | )
Net (loss) income attributable to common shareholders |  |  | (209 | ) |  |  | 1,979 |
Weighted-average basic shares outstanding |  |  | 31,546 |  |  |  | 31,304 |
Net (loss) income per share attributable to common shareholders |  | $ | (0.01 | ) |  | $ | 0.06 |
Diluted earnings per share (1) |  |  |  |  |  |
Net (loss) income attributable to common shareholders |  | $ | (209 | ) |  | $ | 1,979 |
Weighted-average diluted shares outstanding |  |  | 31,546 |  |  |  | 31,369 |
Net (loss) income per share attributable to common shareholders |  | $ | (0.01 | ) |  | $ | 0.06 |
(1) For the three months ended March 31, 2024, the computation of diluted EPS does not include contingently issuable shares due to their anti-dilutive nature. Had the contingently issuable shares been dilutive, the denominator for diluted EPS would have been 31,568,257, including 22,536 contingently issuable shares related to unvested restricted stock awards. For the three months ended March 31, 2023, the computation of diluted EPS includes contingently issuable shares related to PSUs calculated under the two-class method. Additionally, for the three months ended March 31, 2023, the computation of diluted EPS does not include contingently issuable shares related to unvested restricted stock awards due to their anti-dilutive nature. Had the contingently issuable shares been dilutive, the denominator for diluted EPS would have been 31,378,419, including 9,625 contingently issuable shares related to unvested restricted stock awards.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
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