EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2024

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE I – EARNINGS PER SHARE

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

	Three Months Ended				Six Months Ended
	June 30				June 30
	2024		2023		2024		2023
	(in thousands, except share and per share data)
Basic
Numerator:
Net income from continuing operations	$	46,924	$	39,600	$	44,012	$	58,447
Net income from discontinued operations		—		843		600	$	53,279
Net income	$	46,924	$	40,443	$	44,612	$	111,726
Denominator:
Weighted-average shares		23,618,318		24,064,882		23,589,814		24,175,893
Basic earnings per common share
Continuing operations	$	1.99	$	1.65	$	1.87	$	2.42
Discontinued operations		—		0.04		0.03		2.20
Total basic earnings per common share(1)	$	1.99	$	1.68	$	1.89	$	4.62
Diluted
Numerator:
Net income from continuing operations	$	46,924	$	39,600	$	44,012	$	58,447
Net income from discontinued operations		—		843		600		53,279
Net income	$	46,924	$	40,443	$	44,612	$	111,726
Denominator:
Weighted-average shares		23,618,318		24,064,882		23,589,814		24,175,893
Effect of dilutive securities		301,295		608,066		435,685		688,798
Adjusted weighted-average shares and assumed conversions		23,919,613		24,672,948		24,025,499		24,864,691
Diluted earnings per common share
Continuing operations	$	1.96	$	1.60	$	1.83	$	2.35
Discontinued operations		—		0.03		0.02		2.14
Total diluted earnings per common share(1)	$	1.96	$	1.64	$	1.86	$	4.49

(1) Earnings per common share is calculated in total and may not equal the sum of earnings per common share from continuing operations and discontinued operations due to rounding.