EARNINGS PER SHARE

9 Months Ended

Dec. 31, 2023

10.	EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net earnings available to common shareholders by the basic weighted average number of shares of common stock outstanding during each period. Diluted earnings per share is calculated by dividing net earnings available to common shareholders by the basic weighted average number of shares of common stock outstanding plus common stock equivalents during each period.

The following table provides a reconciliation of the numerators and denominators used to calculate basic and diluted net income per common share as disclosed on our unaudited consolidated statements of operations for the three and nine months ended December 31, 2023, and 2022, respectively (in thousands, except per share data).

	Three Months Ended December 31,				Nine Months Ended December 31,
	2023		2022		2023		2022

Net earnings attributable to common shareholders - basic and diluted	$	27,282	$	35,694	$	93,793	$	86,502

Basic and diluted common shares outstanding:
Weighted average common shares outstanding — basic		26,618		26,592		26,598		26,561
Effect of dilutive shares		79		56		67		127
Weighted average shares common outstanding — diluted		26,697		26,648		26,665		26,688

Earnings per common share - basic	$	1.02	$	1.34	$	3.53	$	3.26

Earnings per common share - diluted	$	1.02	$	1.34	$	3.52	$	3.24