EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2023

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated based on the combined weighted average number of common shares and potentially dilutive shares, which include the assumed exercise of employee stock options, unvested restricted stock awards, unvested restricted stock units and unvested performance stock units, including market-based performance units based on the expected achievement of performance targets. In computing diluted earnings per share, we utilize the treasury stock method.

A summary of the numerator and denominators used in the computation of earnings per share follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator:
Net income	$	5,490	$	17,796	$	9,038	$	21,986
Denominators:
Number of shares outstanding, end of period:
Class A common stock	56,974		50,690		56,974		50,690
Class B common stock	988		988		988		988

Unvested restricted stock	(1)		(2)		(1)		(2)
Effect of weighted average shares outstanding (1)	(5,076)		(34)		(5,630)		(109)
Basic weighted average common shares outstanding	52,885		51,642		52,331		51,567
Impact of potentially dilutive securities:
Dilutive effect of stock options and other stock awards	95		139		96		153
Diluted weighted average common shares outstanding	52,980		51,781		52,427		51,720
Anti-dilutive potentially issuable shares	75		70		84		70

(1)Adjustments in the three and six months ended June 30, 2023 primarily associated with the 6,053 shares of Class A common stock issued as part of the public offering, completed on June 16, 2023, only being outstanding for 14 days in the periods ended June 30, 2023. See Note 9, Stockholders' Equity for disclosure regarding the public offering of Class A common stock.