Equity and EPS (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Schedule of Basic and Diluted EPS

The following table presents computations of basic and diluted EPS:

	Quarter Ended June 30,				Year to Date Ended June 30,
	2023		2022		2023		2022
Operations:
Net income(a)	$	31,964	$	25,362	$	62,996	$	62,733
Net loss attributable to noncontrolling interest	162		198		201		264
Income attributable to participating securities (unvested shares and units)(b)	(324)		(217)		(633)		(535)
Net income used in EPS calculation	$	31,802	$	25,343	$	62,564	$	62,462
Share information:
Basic weighted average common shares(c)	22,062,142		22,002,385		22,051,244		21,995,779
Diluted weighted average common shares(d)	22,139,663		22,002,385		22,106,113		21,995,779
Basic EPS	$	1.44	$	1.15	$	2.84	$	2.84
Diluted EPS	$	1.44	$	1.15	$	2.83	$	2.84

(a)Net income attributable to all stockholders.

(b)Participating securities included 226,684 and 189,297 unvested restricted stock units (“RSUs”) at June 30, 2023 and 2022, respectively.

(c)Under the two-class method, basic weighted average common shares exclude unvested participating securities.

(d)The impacts of the Convertible Senior Notes were included in the diluted weighted average common shares if the inclusion was dilutive. The Convertible Senior Notes would only have a dilutive impact if the average market price per share during the quarter and year to date period exceeds the conversion price of $96.24 per share. For the quarter ended June 30, 2023, the average market price per share during the quarter exceeded $96.24 per share; however, the impact to diluted EPS calculation was less than $0.01, which resulted in reported basic and diluted EPS being equal. For the year to date ended June 30, 2023, the inclusion of the shares had a dilutive impact and were included in the diluted EPS calculation. There was no dilutive impact for the quarter and year to date ended June 30, 2022.

Schedule of Common Stock Activity

Common Stock Share Activity. The following table presents the Company’s share activity:

	Shares Outstanding
	Capital Stock Preferred	Common Stock
Balance, December 31, 2022	437	21,994,042
Issuance of Common Stock	—	23,324
Repurchase of Common Stock (a)	—	(8,437)
Balance, March 31, 2023	437	22,008,929
Issuance of Common Stock	—	5,445
Repurchase of Common Stock(a)	—	—
Balance, June 30, 2023	437	22,014,374

	Shares Outstanding
	Capital Stock Preferred	Common Stock
Balance, December 31, 2021	437	21,964,314
Issuance of Common Stock	—	29,807
Repurchase of Common Stock (a)	—	(9,021)
Balance, March 31, 2022	437	21,985,100
Issuance of Common Stock	—	7,655
Repurchase of Common Stock(a)	—	(4)
Balance, June 30, 2022	437	21,992,751

(a)The Common Stock repurchases were for tax withholding on equity-based compensation.