Earnings Per Share

3 Months Ended

Mar. 31, 2022

EARNINGS PER SHARE

Earnings per common and common equivalent share are computed using the weighted average number of shares of common stock and common stock equivalents outstanding during each period. If dilutive, the effect of stock awards, treated as common stock equivalents, is calculated using the treasury stock method.

The following table sets forth the computation of basic and diluted earnings per share:


	Quarter Ended March 31,
In Thousands	2022		2021

Numerator:
Net income	$	161,531	$	41,189

Denominator:
Denominator for basic earnings per share – weighted average shares	20,003		20,568

Effect of dilutive securities:
Employee stock awards	299		151

Denominator for diluted earnings per share – weighted average shares	20,302		20,719

There were no anti-dilutive employee stock awards excluded from the determination of diluted earnings per common and common equivalent shares for the first quarter of 2022 or 2021.