Earnings Per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share

Earnings Per Share

Note 3. Earnings Per Share

Basic earnings per share is based on the weighted average shares of common stock outstanding during the period. Diluted earnings per share assumes the weighted average dilutive effect of common share equivalents outstanding during the period applied to the company’s basic earnings per share. Common share equivalents represent potentially dilutive restricted stock units, deferred stock units, restricted stock, and performance awards, and are excluded from the computation in periods in which they have an anti-dilutive effect. There were no anti-dilutive common share equivalents as of or for the three and six-month periods ended June 30, 2022 and 2021.

	Three-Month Periods Ended June 30,
	2022						2021
			Weighted						Weighted
			Average						Average
	Net Income		Shares		Per Share		Net Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount		(Numerator)		(Denominator)		Amount
Basic earnings per share	$	1,209,554		186,442	$	6.49	$	702,291		209,647	$	3.35
Dilutive common share equivalents		-		1,298				-		1,599
Diluted earnings per share	$	1,209,554		187,740	$	6.44	$	702,291		211,246	$	3.32

Note 3. Earnings Per Share (Continued)

	Six-Month Periods Ended June 30,
	2022						2021
			Weighted						Weighted
			Average						Average
	Net Income		Shares		Per Share		Net Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount		(Numerator)		(Denominator)		Amount
Basic earnings per share	$	2,313,485		189,300	$	12.22	$	1,132,798		210,331	$	5.39
Dilutive common share equivalents		-		1,191				-		1,419
Diluted earnings per share	$	2,313,485		190,491	$	12.14	$	1,132,798		211,750	$	5.35