Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2022

Summary of Cash and Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash as reported in the unaudited condensed consolidated balance sheets that totals to the amounts shown in the unaudited condensed consolidated statements of cash flows at the dates indicated (in thousands):


	September 30,		December 31,
	2022		2021

Cash and cash equivalents	$	86,510	$	97,825
Restricted cash:

Captive insurance subsidiary (1)	7,404		9,492
Total cash, cash equivalents and restricted cash shown in the
unaudited condensed consolidated statements of cash flows	$	93,914	$	107,317

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(1)$1.5 million of the restricted cash balance relates to the initial capitalization of our captive insurance company formed in late 2020, and the remainder represents amounts paid to our captive insurance company for insurance premiums.

Schedule of Common Stock Outstanding

The following table reconciles our outstanding common stock for the periods indicated:


						Common
						shares

Balance, January 1, 2022						4,355,001
Vesting of restricted stock unit awards (see Note 13)						15,966
Shares withheld to cover taxes upon vesting of restricted stock unit awards						(3,101)
Balance, March 31, 2022						4,367,866
Vesting of restricted stock unit awards (see Note 13)						2,953

Shares withheld to cover taxes upon vesting of restricted stock unit awards						(705)
Shares sold at the market						8,202
Balance, June 30, 2022						4,378,316
Issuance of shares in acquisition (see Note 6)						15,259
Vesting of restricted stock unit awards (see Note 13)						973
Vesting of performance share unit awards (see Note 13)						289
Balance, September 30, 2022 (1)						4,394,837

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(1)On October 31, 2022, we repurchased 1,942,433 of our common shares. See Note 17 for further information.

Schedule of Earnings Per Share, Basic and Diluted

A reconciliation of the calculation of basic and diluted earnings per share was as follows for the periods indicated (in thousands, except per share data):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Earnings per share — numerator:
Net earnings	$	2,190	$	1,546	$	10,756	$	9,063

Denominator:
Basic weighted average number of shares outstanding	4,387		4,274		4,373		4,258

Basic earnings per share	$	0.50	$	0.36	$	2.46	$	2.13

Diluted earnings per share:
Diluted weighted average number of shares outstanding:
Common shares	4,387		4,274		4,373		4,258
Restricted stock unit awards	20		17		21		16
Performance share unit awards (1)	13		6		12		6
Total diluted shares	4,420		4,297		4,406		4,280

Diluted earnings per share	$	0.50	$	0.36	$	2.44	$	2.12

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(1)The dilutive effect of performance share awards are included in the calculation of diluted earnings per share when the performance share award performance conditions have been achieved.