Net Income Per Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share

The Company calculated net income per share using the treasury stock method. The table below sets forth the computation of basic and diluted net income per share for the periods presented below:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(In thousands, except per share)
Net income	$	8,647	$	59,817	$	73,566	$	91,204
Basic weighted-average common shares outstanding	19,680		19,546		19,667		19,530
Restricted shares	309		41		297		102
Diluted weighted average common shares outstanding	19,989		19,587		19,964		19,632
Basic net income per share	$	0.44	$	3.06	$	3.74	$	4.67
Diluted net income per share	$	0.43	$	3.05	$	3.68	$	4.65

The following shares were excluded from the calculation of diluted net income per share due to their anti-dilutive effect for the periods presented:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022
Restricted shares	186,701	293,473	199,051	232,246