EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2022

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE J – EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share:

	Three Months Ended				Six Months Ended
	June 30				June 30
	2022		2021		2022		2021
	(in thousands, except share and per share data)
Basic
Numerator:
Net income	$	102,461	$	60,981	$	172,030	$	84,342
Denominator:
Weighted-average shares		24,607,362		25,586,353		24,658,739		25,522,453
Earnings per common share	$	4.16	$	2.38	$	6.98	$	3.30
Diluted
Numerator:
Net income	$	102,461	$	60,981	$	172,030	$	84,342
Denominator:
Weighted-average shares		24,607,362		25,586,353		24,658,739		25,522,453
Effect of dilutive securities		988,669		1,324,443		1,097,575		1,403,680
Adjusted weighted-average shares and assumed conversions		25,596,031		26,910,796		25,756,314		26,926,133
Earnings per common share	$	4.00	$	2.27	$	6.68	$	3.13