Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share from Continuing Operations

The following table sets forth the computation of basic and diluted earnings per share from continuing operations for the three and nine months ended September 30, 2022 and 2021 (in thousands, except per share data):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Income from continuing operations	$	27,474	$	21,695	$	116,865	$	80,524
Denominator:
Basic
Weighted average common shares outstanding	51,457		52,425		51,827		52,885
Diluted
Stock options (1)	434		609		523		692
Restricted stock units and awards (1)	118		155		141		182
Performance share units	205		—		205		—
Contingent shares (2)	24		37		24		37
Diluted weighted average common shares    outstanding (3)	52,238		53,226		52,720		53,796
Basic earnings per share from continuing operations	$	0.53	$	0.41	$	2.25	$	1.52
Diluted earnings per share from continuing operations	$	0.53	$	0.41	$	2.22	$	1.50

(1)A total of 72 thousand shares of stock-based awards were excluded from the calculation of diluted earnings per share for the nine months ended September 30, 2022, as their effect would be anti-dilutive. No stock-based awards were exclude from the calculation of diluted earnings per share for the three months ended September 30, 2022, as their effect was dilutive. A total of 44 thousand and 106 thousand shares of stock-based awards were excluded from the calculation of diluted earnings per share for the three and nine months ended September 30, 2021, respectively, as their effect would be anti-dilutive.

(2)Contingent shares represent additional shares to be issued for purchase price earned by former owners of businesses acquired by us once future considerations have been met. Refer to Note 11, Business Combinations, for further details.

(3)The denominator used in calculating diluted earnings per share did not include 237 thousand performance share units for both the three and nine months ended September 30, 2022, and the denominator used in calculating diluted earnings per share did not include 447 thousand

performance share units for both the three and nine months ended September 30, 2021. The performance conditions associated with these performance share units were not met and consequently none of these performance share units were considered as issuable for the three and nine months ended September 30, 2022 and 2021.