Annual report [Section 13 and 15(d), not S-K Item 405]

Earnings per Share

v3.25.0.1
Earnings per Share
12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share
NOTE 14 — EARNINGS PER SHARE

Earnings per share ("EPS") is presented on both a basic and diluted basis. Basic EPS is based on the weighted average number of common shares outstanding. Diluted EPS reflects the potential dilution that could occur if outstanding securities or other contracts to issue common stock were exercised or converted into common stock.

A reconciliation of the common shares used in the denominator for computing basic and diluted EPS is as follows:

Year Ended December 31,
(in thousands, except per share amounts)
2024 2023 2022
Weighted average common shares outstanding, used in computing basic earnings per share
58,333  61,232  62,754 
Effect of dilutive stock options and restricted stock units 169  192  216 
Weighted average common shares outstanding, used in computing diluted earnings per share
58,502  61,424  62,970 
Earnings per share:
Basic $ 3.83  $ 4.11  $ 4.96 
Diluted $ 3.82  $ 4.09  $ 4.95 
Weighted average common shares excluded (1)
1,932  1,996  1,735 
(1) Common stock related to stock options, time-based restricted stock units, market-based restricted stock units, and performance-based restricted stock units were outstanding but were excluded from the computation of diluted EPS because their effect would be anti-dilutive under the treasury stock method or because the shares were subject to performance conditions that had not been met.