Earnings per Common Share

3 Months Ended

Mar. 31, 2023

Earnings per Share

Basic income per share is based on the weighted-average number of shares of common stock outstanding. Diluted income per share is based upon the weighted-average number of shares of common stock outstanding plus all potentially dilutive securities that were assumed to be converted into common shares at the beginning of the period under the treasury stock method. This method requires the effect of potentially dilutive common stock equivalents be excluded from the calculation of diluted earnings per share for the periods in which net losses are reported because the effect is anti-dilutive.


	Quarter Ended March 31,
(In thousands)	2023	2022
Basic weighted-average common shares outstanding	16,834	16,728
Incremental shares due to:
Stock-based awards	202	229
Performance shares	—	116
Diluted weighted-average common shares outstanding	17,036	17,073

Shares excluded from the computation of diluted earnings per share were 0.4 million for the quarters ended March 31, 2023 and 2022 as they were antidilutive (not in-the-money).