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Earnings Per Share
 3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
Earnings Per Share

Note 10. Earnings Per Share

The following schedule reconciles the computation of basic and diluted earnings per share for the periods indicated:

 

 

Three Months Ended
March 31,

 

Dollars in thousands, except per share amounts

 

2023

 

 

2022

 

Numerator:

 

 

 

 

 

 

Net income

 

$

8,689

 

 

$

26,783

 

Denominator:

 

 

 

 

 

 

Weighted-average shares outstanding for basic earnings per share

 

 

9,325

 

 

 

9,533

 

Effect of dilutive securities

 

 

297

 

 

 

489

 

Weighted-average shares adjusted for dilutive securities

 

 

9,622

 

 

 

10,022

 

Earnings per share:

 

 

 

 

 

 

Basic

 

$

0.93

 

 

$

2.81

 

Diluted

 

$

0.90

 

 

$

2.67

 

During the three months ended March 31, 2023 and 2022, 0.2 million and 0.1 million shares of common stock were outstanding, respectively, but were not included in the computation of diluted earnings per share because they were anti-dilutive. These anti-dilutive awards include Non-Qualified Stock Options, Restricted Stock Awards, Performance-Contingent Restricted Stock Units, and Performance Restricted Stock Units.