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Earnings Per Share (Tables) | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share | Basic earnings per share is calculated by dividing the net income attributable to equity holders of the Company for the period by the weighted average number of common shares outstanding during the period.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
| (in thousands, except per share data)
Net income attributable to Karat Packaging Inc. | $ | 9,094 |  |  | $ | 9,065 |  |  | $ | 24,360 |  |  | $ | 28,572 |
Weighted average number of common shares in issue | 20,018 |  |  | 19,891 |  |  | 19,994 |  |  | 19,888 |
Basic earnings per share | $ | 0.45 |  |  | $ | 0.46 |  |  | $ | 1.22 |  |  | $ | 1.44 |
The following table summarizes the calculation of diluted earnings per share:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
| (in thousands, except per share data)
Net income attributable to Karat Packaging Inc. | $ | 9,094 |  |  | $ | 9,065 |  |  | $ | 24,360 |  |  | $ | 28,572 |
Weighted average number of common shares in issue | 20,018 |  |  | 19,891 |  |  | 19,994 |  |  | 19,888 |
Dilutive shares |  |  |  |  |  |  |
Stock options and restricted stock units | 116 |  |  | 104 |  |  | 114 |  |  | 75 |
Adjusted weighted average number of common shares | 20,134 |  |  | 19,995 |  |  | 20,108 |  |  | 19,963 |
Diluted earnings per share | $ | 0.45 |  |  | $ | 0.45 |  |  | $ | 1.21 |  |  | $ | 1.43 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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