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EARNINGS PER SHARE | 3 Months Ended
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Mar. 31, 2022
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE Basic earnings per share (“EPS”) computations are calculated utilizing the weighted average number of shares of the Company’s common stock outstanding during the periods presented. Diluted EPS is calculated utilizing the weighted average number of shares of the Company’s common stock outstanding adjusted for the effect of dilutive common stock equivalents. The following table sets forth the computation of basic and diluted EPS (in thousands, except per share data):
| Three months ended March 31, |  |
| 2022 |  | 2021 |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income | $ | 41,781 |  |  | $ | 41,063 |  |  |  |  |
Denominator: |  |  |  |  |  |  |
Weighted average shares of common stock outstanding | 11,557 |  |  | 11,772 |  |  |  |  |
Effect of dilutive common stock equivalents | 81 |  |  | 109 |  |  |  |  |
Weighted average shares of common stock outstanding | 11,638 |  |  | 11,881 |  |  |  |  |
Earnings per share - basic | $ | 3.62 |  |  | $ | 3.49 |  |  |  |  |
Earnings per share - diluted | $ | 3.59 |  |  | $ | 3.46 |  |  |  |  |
The calculation of diluted EPS excluded 44 and 267 antidilutive restricted stock awards for the three months ended March 31, 2022 and 2021, respectively.

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