Earnings per Common Share

3 Months Ended

Mar. 31, 2024

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)	2024	2023
Basic weighted-average common shares outstanding	16,607	16,834
Incremental shares due to:
Stock-based awards	181	202
Performance shares	107	—

Diluted weighted-average common shares outstanding	16,895	17,036

Shares excluded from the computation of diluted earnings per share were 0.4 million for each of the quarters ended March 31, 2024, and 2023 as they were either antidilutive (not in-the-money) or the required performance conditions have not been met.