Common and Common Equivalent Shares

9 Months Ended

Sep. 30, 2024

9. Common and Common Equivalent Shares:

Basic net income per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share is calculated by dividing net income by the weighted average number of common and potential common shares outstanding during the period. Potential common shares consist of outstanding restricted stock and stock options and is calculated using the treasury stock method.

The calculation of shares used in the basic and diluted net income per common share calculation for the three and nine months ended September 30, 2024 and 2023 is as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Weighted average number of common shares outstanding		83,891		82,543		83,223		82,127
Weighted average number of dilutive common share equivalents (a)		632		407		—		365
Weighted average number of common and common equivalent shares outstanding		84,523		82,950		83,223		82,492
Antidilutive securities (restricted stock and stock options) not included in the diluted net income per common share calculation		2		888		389		1,201

(a) Due to a loss for the nine months ended September 30, 2024, 0.4 million incremental shares are not included because the effect would be antidilutive.