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EARNINGS PER SHARE
6 Months Ended
Jun. 30, 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

For the Six Months Ended

June 30, 

June 30, 

2023

    

2022

    

2023

    

2022

 

Common shares outstanding, basic:

Weighted-average common shares outstanding, basic

42,786,918

 

42,385,423

42,709,916

 

42,276,371

Common shares outstanding, diluted:

Weighted-average common shares outstanding, basic

42,786,918

 

42,385,423

42,709,916

 

42,276,371

Dilutive effect of stock options

170,198

415,578

192,282

427,995

Dilutive effect of performance based restricted stock units

54,712

27,507

Dilutive effect of restricted stock units

122,324

 

195,675

186,154

 

228,004

Weighted-average common shares outstanding, diluted

43,134,152

 

42,996,676

43,115,859

 

42,932,370