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Earnings Per Share
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Earnings Per Share

Note 15. Earnings Per Share

The following schedule reconciles the computation of basic and diluted earnings per share for the periods indicated:

 

 

 

Year Ended December 31,

 

Dollars in thousands, except per share amounts

 

2023

 

 

2022

 

 

2021

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income

 

$

15,958

 

 

$

51,224

 

 

$

88,687

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding for basic earnings per share

 

 

9,398

 

 

 

9,296

 

 

 

10,034

 

Effect of dilutive securities

 

 

195

 

 

 

360

 

 

 

609

 

Weighted-average shares adjusted for dilutive securities

 

 

9,593

 

 

 

9,656

 

 

 

10,643

 

Earnings per share:

 

 

 

 

 

 

 

 

 

Basic

 

$

1.70

 

 

$

5.51

 

 

$

8.84

 

Diluted

 

$

1.66

 

 

$

5.30

 

 

$

8.33

 

 

The Company excluded outstanding shares of common stock totaling 0.4 million, 0.3 million, and 11 thousand for the years ended December 31, 2023, 2022, and 2021, respectively, from the computation of diluted earnings per share because they were anti-dilutive. These anti-dilutive awards include Non-Qualified Stock Options, Restricted Stock Awards, Performance-Contingent Restricted Stock Units, and Performance Restricted Stock Units.