Earnings Per Common Share

6 Months Ended

Jun. 30, 2022

The following table sets forth the computation of basic and diluted earnings per common share for the three month and six months ended June 30, 2022 and 2021.


	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands, except share and per common share data)	2022		2021		2022		2021
Numerator:
Net income	$	34,324	$	39,132	$	73,199	$	81,963
Denominator:
Weighted-average common shares outstanding	16,249,307		16,340,690		16,234,598		16,327,838
Effect of dilutive PBRSUs and TBRSUs	111,939		132,110		111,543		127,835
Weighted-average common shares outstanding adjusted for the effect of dilutive PBRSUs and TBRSUs	16,361,246		16,472,800		16,346,141		16,455,673
Earnings per common share:
Basic earnings per common share	$	2.11	$	2.39	$	4.51	$	5.02
Diluted earnings per common share	$	2.10	$	2.38	$	4.48	$	4.98

Park awarded 52,335 and 61,890 PBRSUs to certain employees during the six months ended June 30, 2022 and 2021, respectively. No PBRSUs were awarded during either of the three months ended June 30, 2022 or 2021.

No common shares were repurchased during the three months or six months ended June 30, 2022 or 2021.