Earnings Per Share The following table sets forth the computation of basic and diluted EPS: | | | | | | | | | | | | | | | | | | | | | (Thousands except per share amounts) | | 2023 | | 2022 | | 2021 | Numerator for basic and diluted EPS: | | | | | | | Net income | | $ | 95,702 | | | $ | 85,990 | | | $ | 72,474 | | Denominator: | | | | | | | Denominator for basic EPS: | | | | | | | Weighted-average shares outstanding | | 20,619 | | | 20,511 | | | 20,422 | | Effect of dilutive securities: | | | | | | | Stock appreciation rights | | 85 | | | 81 | | | 78 | | Restricted stock units | | 92 | | | 102 | | | 124 | | Performance-based restricted stock units | | 115 | | | 66 | | | 65 | | Diluted potential common shares | | 292 | | | 249 | | | 267 | | Denominator for diluted EPS: | | | | | | | Adjusted weighted-average shares outstanding | | 20,911 | | | 20,760 | | | 20,689 | | Basic EPS | | $ | 4.64 | | | $ | 4.19 | | | $ | 3.55 | | Diluted EPS | | $ | 4.58 | | | $ | 4.14 | | | $ | 3.50 | |
Equity awards covering shares of common stock totaling 39,473 in 2023, 56,636 in 2022, and 55,598 in 2021 were excluded from the diluted EPS calculation as their effect would have been anti-dilutive.
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