XML 31 R21.htm IDEA: XBRL DOCUMENT v3.24.3
Earnings Per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The components of basic and diluted earnings per share are as follows (in thousands, except share and per share data):
Three Months Ended September 30, Nine Months Ended September 30,
2024202320242023
Numerator for basic and diluted net income per common share:  
Net income attributable to common shareholders
$21,120 $24,007 $71,364 $60,523 
Net income available to participating securities (1)
— (12)(9)(52)
Net income available to common shareholders from operations$21,120 $23,995 $71,355 $60,471 
Denominator:  
Weighted-average outstanding shares of common stock 19,300,283 19,627,188 19,256,739 19,708,991 
Dilutive effect of:
Equity incentive plans138,490 12,649 60,478 15,744 
Employee Stock Purchase Plan3,357 8,018 4,057 6,030 
Common stock and common stock equivalents 19,442,130 19,647,855 19,321,274 19,730,765 
Net income per share from operations:  
Basic$1.09 $1.22 $3.71 $3.07 
Diluted$1.09 $1.22 $3.69 $3.07 
(1) Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid).

For the three months ended September 30, 2024 and 2023, there were 1,005,413 and 836,655 anti-dilutive shares, respectively, that were excluded from the earnings per share calculation. For the nine months ended September 30, 2024 and 2023, there were 1,238,732 and 704,837 anti-dilutive shares, respectively, that were excluded from the earnings per share calculation.