Net Income Per Share

12 Months Ended

Dec. 31, 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:

	Year Ended December 31,
	2023		2022
	(In thousands, except per share amounts)
Net income	$	111,591	$	118,011
Basic weighted-average common shares outstanding	19,705		19,553
Restricted shares	295		133
Diluted weighted-average common shares outstanding	20,000		19,686
Basic net income per common share	$	5.66	$	6.04
Diluted net income per common share	$	5.58	$	5.99

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

	Year Ended December 31,
	2023	2022
Restricted shares	294,817	405,114