Earnings Per Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share

Earnings Per Share

Note 2. 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 nine-month periods ended September 30, 2023 and 2022.

Note 2. Earnings Per Share (Continued)

	Three-Month Periods Ended September 30,
	2023						2022
			Weighted						Weighted
			Average						Average
	Net Income		Shares		Per Share		Net Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount		(Numerator)		(Denominator)		Amount
Basic earnings per share	$	577,195		165,170	$	3.49	$	914,325		180,264	$	5.07
Dilutive common share equivalents		-		935				-		1,349
Diluted earnings per share	$	577,195		166,105	$	3.47	$	914,325		181,613	$	5.03

	Nine-Month Periods Ended September 30,
	2023						2022
			Weighted						Weighted
			Average						Average
	Net Income		Shares		Per Share		Net Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount		(Numerator)		(Denominator)		Amount
Basic earnings per share	$	2,026,612		168,259	$	12.04	$	3,227,810		186,288	$	17.33
Dilutive common share equivalents		-		891				-		1,243
Diluted earnings per share	$	2,026,612		169,150	$	11.98	$	3,227,810		187,531	$	17.21