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EQUITY AND EPS (Tables)

12 Months Ended

Dec. 31, 2023

The following table presents the computations of basic and diluted EPS:


	Year Ended December 31,
	2023		2022		2021
Operations:
Net income(a)	$	107,130	$	108,872	$	90,817
Net loss attributable to noncontrolling interest	345		590		490
Income attributable to participating securities (unvested shares and units) (b)	(1,074)		(871)		(712)
Net income used in EPS calculation	$	106,401	$	108,591	$	90,595

Share information:
Basic weighted average common shares(c)	22,059,816		22,002,990		20,719,663
Diluted weighted average common shares(d)	22,173,918		22,053,966		20,719,663

Basic EPS	$	4.82	$	4.94	$	4.37
Diluted EPS	$	4.80	$	4.92	$	4.37

(a)Net income attributable to all stockholders.

(b)Participating securities included 226,410, 177,398, and 163,024 unvested restricted stock units (“RSUs”) for the years ended December 31, 2023, 2022, and 2021, respectively.

(c)Under the two class method, basic weighted average common shares exclude outstanding unvested participating securities.

(d)The impacts of the Convertible Senior Notes were included in the diluted weighted average common shares if the inclusion was dilutive. The Convertible Senior Notes would only have a dilutive impact if the average market price per share during the quarter and year to date period exceeds the conversion price of $96.24 per share. There was no dilutive impact for the year ended December 31, 2021.

Schedule of Common Stock Activity

The following table presents the Company’s share activity:


	Shares Outstanding
	Preferred Stock	Common Stock
Balance at December 31, 2021	437	21,964,314
Issuance of Common Stock	—	38,760
Repurchase of Common Stock	—	(9,032)
Balance at December 31, 2022	437	21,994,042
Issuance of Common Stock	—	30,507
Repurchase of Common Stock	—	(8,436)
Balance at December 31, 2023	437	22,016,113

Schedule of Dividends

The following table presents the Company’s dividend and dividend equivalent information:


Dividend and Dividend Equivalent Information (per Share and Unit)
Declaration date	Record date	Payment date	Declared		Paid		Dividend payment		Dividend equivalent payment(a)(b)		Total payment(b)
2023
February 23	March 10	March 24	$	0.12	$	0.12	$	2,640	$	29	$	2,669
May 4	May 19	June 2	0.12		0.12		2,641		27		2,668
August 3	August 18	September 1	0.12		0.12		2,642		27		2,669
November 2	November 17	December 1	0.12		0.12		2,642		27		2,669
			$	0.48	$	0.48	$	10,565	$	110	$	10,675
2022
February 22	March 11	March 25	$	0.12	$	0.12	$	2,638	$	23	$	2,661
May 5	May 20	June 3	0.12		0.12		2,638		23		2,661
August 4	August 19	September 2	0.12		0.12		2,639		23		2,662
November 3	November 18	December 2	0.12		0.12		2,639		23		2,662
			$	0.48	$	0.48	$	10,554	$	92	$	10,646
2021
February 23	March 12	March 26	$	0.12	$	0.12	$	2,033	$	19	$	2,052
May 3	May 21	June 4	0.12		0.12		2,635		20		2,655
August 2	August 20	September 3	0.12		0.12		2,635		20		2,655
November 1	November 19	December 3	0.12		0.12		2,635		20		2,655
			$	0.48	$	0.48	$	9,938	$	79	$	10,017

(a) Dividend equivalent payments on unvested participating securities (see Note 12, Employee Benefit Plans).

(b) Includes estimated forfeitures.