XML 39 R27.htm IDEA: XBRL DOCUMENT
v3.22.4

Earnings Per Share | 12 Months Ended
--- | ---
Dec. 31, 2022
Earnings Per Share [Abstract] |
Earnings Per Share | EARNINGS PER SHARE Share-based awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are participating securities and included in the computation of both basic and diluted earnings per share. Our grants of stock awards to our employees are considered participating securities and we have prepared our earnings per share calculations to exclude earnings allocated to unvested restricted stock awards, using the two-class method, in the basic and diluted weighted average shares outstanding calculation. The following table sets forth the computation of the basic and diluted earnings per share (in thousands, except per share data):
| Years Ended December 31,
| 2020 |  | 2021 |  | 2022
Numerator for basic and diluted earnings per share: |  |  |  |  |
Net income | $ | 16,090 |  |  | $ | 33,159 |  |  | $ | 41,381 |
Less: Earnings allocated to unvested restricted stock | (46) |  |  | (53) |  |  | (26) |
Income attributable to common stockholders | $ | 16,044 |  |  | $ | 33,106 |  |  | $ | 41,355 |
Denominator: |  |  |  |  |
Denominator for basic earnings per common share - weighted average shares outstanding | 17,872 |  |  | 17,409 |  |  | 14,857 |
Effect of dilutive securities: |  |  |  |  |
Stock options | 196 |  |  | 475 |  |  | 183 |
Convertible Notes | 9 |  |  | — |  |  | — |
Performance awards | — |  |  | 382 |  |  | 670 |
Denominator for diluted earnings per common share - weighted average shares outstanding | 18,077 |  |  | 18,266 |  |  | 15,710 |
Basic earnings per common share | $ | 0.90 |  |  | $ | 1.90 |  |  | $ | 2.78 |
Diluted earnings per common share | $ | 0.89 |  |  | $ | 1.81 |  |  | $ | 2.63 |
For the year ended December 31, 2022, there were 311,143 stock options excluded from the computation of diluted earnings per share because the inclusion of such stock options would result in an antidilutive effect. For the years ended December 31, 2020 and 2021, no stock options were excluded from the computation of diluted earnings per share. Our performance awards are considered to be contingently issuable shares because their issuance is contingent upon the satisfaction of certain performance and service conditions. At December 31, 2022, we had satisfied certain performance criteria for the first, second and third predetermined growth targets of our performance awards to be considered outstanding. Therefore, we included these awards in the computation of diluted earnings per share as of the beginning of the reporting period. The fully diluted weighted average shares outstanding for the year ended December 31, 2020 and the corresponding calculation of fully diluted earnings per share, included approximately 9,000 shares that would have been issued upon the conversion of our Convertible Notes as a result of the application of the if-converted method prescribed by the FASB ASC 260. At December 31, 2021 and 2022, we had no Convertible Notes outstanding.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://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 https://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 https://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 https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration