Earnings Per Share

6 Months Ended

Jun. 30, 2024

Basic earnings per share represent income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive

potential common shares had been issued, as well as any adjustments to income that would result from assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options and restricted stock units (RSUs), and are determined using the treasury stock method. Earnings per share have been computed based on the following:


	Three months ended June 30,
(in thousands)	2024		2023
Net income	$	29,034	$	24,892
Average number of common shares outstanding	33,121		33,219
Effect of dilutive stock options and restricted stock	123		83
Average number of common shares outstanding used to calculate diluted earnings per share	33,244		33,302
Options excluded from diluted earnings per share because of their antidilutive effect	—		—


	Six months ended June 30,
(in thousands)	2024		2023
Net income	$	56,783	$	60,725
Average number of common shares outstanding	33,183		33,257
Effect of dilutive stock options and restricted stock	123		114
Average number of common shares outstanding used to calculate diluted earnings per share	33,306		33,371
Options excluded from diluted earnings per share because of their antidilutive effect	—		—