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Earnings per Share | 12 Months Ended
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Dec. 31, 2022
Earnings Per Share [Abstract] |
Earnings per Share |
15. | Earnings per Share
The computation of basic earnings per share (“EPS”) is based on the Company’s net income divided by the weighted average number of common shares outstanding. Diluted earnings per share reflects the potential dilution that could occur if outstanding stock options and restricted share units were exercised / released. The dilutive effect of stock options and restricted share units were calculated using the treasury stock method. For the years ended December 31, 2022, 2021 and 2020, there were 506,000, 276,000 and 0 anti-dilutive stock options that were excluded from the computation of diluted earnings per share, respectively. The following table sets forth the denominators of the basic and diluted EPS computations:
|  | Years Ended December 31, |
(Amounts in thousands, except per share data) |  | 2022 |  |  | 2021 |  |  | 2020 |
Weighted-average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 11,588 |  |  |  | 11,436 |  |  |  | 11,292 |
Stock options and restricted share units |  |  | 489 |  |  |  | 571 |  |  |  | 658 |
Diluted |  |  | 12,077 |  |  |  | 12,007 |  |  |  | 11,950 |
The following table sets forth the computation of basic EPS utilizing net income and the Company’s weighted-average common stock outstanding:
|  | Years Ended December 31, |
(Amounts in thousands, except per share data) |  | 2022 |  |  | 2021 |  |  | 2020 |
Net income |  | $ | 8,712 |  |  | $ | 12,221 |  |  | $ | 9,861 |
Basic weighted-average shares outstanding |  |  | 11,588 |  |  |  | 11,436 |  |  |  | 11,292 |
Basic EPS |  | $ | .75 |  |  | $ | 1.07 |  |  | $ | .87 |
The following table sets forth the computation of diluted EPS utilizing net income and the Company’s weighted-average common stock outstanding plus the weighted-average of stock options, restricted shares and performance shares:
|  | Years Ended December 31, |
(Amounts in thousands, except per share data) |  | 2022 |  |  | 2021 |  |  | 2020 |
Net income |  | $ | 8,712 |  |  | $ | 12,221 |  |  | $ | 9,861 |
Diluted weighted-average shares outstanding |  |  | 12,077 |  |  |  | 12,007 |  |  |  | 11,950 |
Diluted EPS |  | $ | .72 |  |  | $ | 1.02 |  |  | $ | .83 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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