Earning per Share (Tables)

3 Months Ended

Mar. 31, 2022

Earnings per Share

Schedule of basic and diluted net income per share

The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share amounts):

	Three Months Ended
	March 31,
	2022			2021
Net income	$	14,507		$	13,850
Less income allocated to non-controlling interests		(95)			(88)
Less income allocated to participating securities:
Non-forfeitable dividends on participating securities		(137)			(120)
Net income available to common stockholders		14,275			13,642
Effect of dilutive securities:
Participating securities (1)		—			—
Net income for diluted net income per share	$	14,275		$	13,642
Shares for basic net income per share		39,199			39,100
Effect of dilutive securities:
Stock options		—	(2)		1
Performance-based stock units		150			78
Participating securities (1)		—			—
Total effect of dilutive securities		150			79
Shares for diluted net income per share		39,349			39,179
Basic net income per share	$	0.36		$	0.35
Diluted net income per share	$	0.36		$	0.35

(1) For the three months ended March 31, 2022, and 2021, the participating securities have been excluded from the computation of diluted net income per share as such inclusion would be anti-dilutive.

(2) For the three months ended March 31, 2022, stock options have been excluded from the computation of diluted net income per share as such inclusion would be anti-dilutive.