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Earnings per share (EPS) | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
Earnings per share (EPS) | 21. Earnings per share (EPS) For periods in which non-vested restricted stock awards with nonforfeitable rights to dividends or dividend equivalents (referred to as participating securities) were outstanding, the Company used the two-class method of computing basic and diluted EPS. In other periods, the Company used the treasury stock method of computing basic and diluted EPS. Basic EPS is computed using the weighted average number of common shares outstanding during each of the respective years. Diluted EPS is computed using the weighted average number of common and common equivalent shares outstanding during each of the respective years using the more dilutive of either the treasury stock method or two-class method (if other participating securities were outstanding). The difference between basic and diluted shares, if any, largely results from common equivalent shares, which represents the dilutive effect of the assumed exercise of certain outstanding share options, the assumed vesting of restricted stock granted to employees and directors, or the satisfaction of certain necessary conditions for contingently issuable shares (see Note 18). For each of the three years ended December 31, 2023, 2022, and 2021, no significant adjustments were made to net income for purposes of calculating basic and diluted EPS. The following is a reconciliation of the weighted average shares used in the diluted EPS computations:
|  | Year Ended December 31, |
(In thousands) |  | 2023 |  |  | 2022 |  |  | 2021 |
Weighted average common shares-basic |  |  | 36,729 |  |  |  | 20,054 |  |  |  | 19,691 |
Effect of diluted securities: |  |  |  |  |  |  |  |  |
Unexercised stock options and employee stock purchase plan |  |  | — |  |  |  | — |  |  |  | — |
Unvested time-based restricted stock units |  |  | — |  |  |  | — |  |  |  | — |
Weighted average common shares-diluted |  |  | 36,729 |  |  |  | 20,054 |  |  |  | 19,691 |
There were 6.5 million, 2.3 million and 1.7 million weighted average outstanding options, time-based restricted stock awards and stock units, performance-based stock units, and market-based stock units not included in the diluted earnings per share computation for the years ended December 31, 2023, 2022, and 2021, respectively, because inclusion of these awards was anti-dilutive or, for performance-based stock units and market-based stock units, all necessary conditions had not been satisfied by the end of the respective period.

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