Earnings Per Common Share

3 Months Ended

Mar. 31, 2022

NOTE 8. — EARNINGS PER COMMON SHARE

Basic and diluted earnings per common share gives effect, utilizing the two-class method, to the potential dilution from the issuance of shares of our common stock in settlement of RSUs which provide for non-forfeitable dividend equivalents equal to the dividends declared per common share. Basic and diluted earnings per common share is computed by dividing net earnings less dividend equivalents attributable to RSUs by the weighted average number of common shares outstanding during the period.

The following table is a reconciliation of the numerator and denominator used in the computation of basic and diluted earnings per common share using the two-class method (in thousands except per share data):

	Three Months Ended March 31,
	2022			2021
Net earnings	$	18,749		$	17,927
Less earnings attributable to RSUs outstanding		(458	)		(395	)
Net earnings attributable to common stockholders used in basic and diluted earnings per share calculation		18,291			17,532
Weighted average common shares outstanding:
Basic		46,721			43,872
Incremental shares from stock-based compensation		21			3
Diluted		46,742			43,875
Basic earnings per common share	$	0.39		$	0.40
Diluted earnings per common share	$	0.39		$	0.40