Earnings Per Common Share

6 Months Ended

Jun. 30, 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):

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2022			2021			2022			2021
Net earnings	$	30,680		$	12,890		$	49,429		$	30,817
Less earnings attributable to RSUs outstanding		(716	)		(359	)		(1,154	)		(718	)
Net earnings attributable to common stockholders used in basic and diluted earnings per share calculation		29,964			12,531			48,275			30,099
Weighted average common shares outstanding:
Basic		46,733			44,437			46,727			44,156
Incremental shares from stock-based compensation		23			33			19			20
Diluted		46,756			44,470			46,746			44,176
Basic earnings per common share	$	0.64		$	0.28		$	1.03		$	0.68
Diluted earnings per common share	$	0.64		$	0.28		$	1.03		$	0.68