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EARNINGS PER SHARE
3 Months Ended
Mar. 31, 2023
EARNINGS PER SHARE  
EARNINGS PER SHARE

5 – EARNINGS PER SHARE

The computation of basic earnings per share is based on the weighted-average number of common shares outstanding during the reporting period. The computation of diluted earnings per share assumes the vesting of nonvested stock awards and the exercise of stock options (refer to Note 13 — Stock-Based Compensation), for which the assumed proceeds upon vesting are deemed to be the amount of compensation cost attributable to future services and are not yet recognized using the treasury stock method, to the extent dilutive.

The components of the denominator for the calculation of basic and diluted earnings per share are as follows:

For the Three Months Ended

March 31, 

    

2023

    

2022

 

Common shares outstanding, basic:

Weighted-average common shares outstanding, basic

42,632,059

 

42,166,106

Common shares outstanding, diluted:

Weighted-average common shares outstanding, basic

42,632,059

 

42,166,106

Dilutive effect of stock options

214,611

440,550

Dilutive effect of restricted stock units

250,692

 

260,693

Weighted-average common shares outstanding, diluted

43,097,362

 

42,867,349