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Earnings Per Share | 6 Months Ended
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Jun. 30, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The computation of basic and diluted earnings per share ("EPS") is based on Net income divided by the basic weighted average number of common shares outstanding and diluted weighted average number of common shares outstanding, respectively. The details of the basic and diluted EPS calculations for the three and six months ended June 30, 2023 and 2022 were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Basic |  |  |  |  |  |  |
Net income | $ | 32,728 |  |  | $ | 65,157 |  |  | $ | 67,682 |  |  | $ | 128,230 |
Weighted average common shares outstanding | 27,494,555 |  |  | 28,168,207 |  |  | 27,547,874 |  |  | 28,183,951 |
EPS – Basic | $ | 1.19 |  |  | $ | 2.31 |  |  | $ | 2.46 |  |  | $ | 4.55 |
Diluted |  |  |  |  |  |  |
Dilutive effect of equity awards and other stock-based holdings | 618,847 |  |  | 1,094,502 |  |  | 800,392 |  |  | 1,132,841 |
Weighted average common shares outstanding | 28,113,402 |  |  | 29,262,709 |  |  | 28,348,266 |  |  | 29,316,792 |
EPS – Diluted | $ | 1.16 |  |  | $ | 2.23 |  |  | $ | 2.39 |  |  | $ | 4.37 |
Diluted EPS is computed based upon the weighted average number of common shares outstanding for the period plus the dilutive effect of common stock equivalents using the treasury stock method and the average market price of our common stock for the period. The diluted EPS calculations exclude the effect of stock options when the options’ assumed proceeds exceed the average market price of the common shares during the period. The anti-dilutive common stock equivalents outstanding at the three and six months ended June 30, 2023 and 2022 were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Options and stock equivalents | 503,354 |  |  | 121,794 |  |  | 404,009 |  |  | 121,055 |
Dividend activity for the three and six months ended June 30, 2023 and 2022 was as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Cash dividends declared per share | $ | 0.145 |  |  | $ | 0.125 |  |  | $ | 0.290 |  |  | $ | 0.250 |
Aggregate dividends paid to shareholders | $ | 3,984 |  |  | $ | 3,515 |  |  | $ | 8,004 |  |  | $ | 7,032 |

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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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