Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

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Earnings per Share
3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share
NOTE 7 — 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:

Three Months Ended March 31,
(in thousands, except per share amounts)
2024 2023
Weighted average common shares outstanding, used in computing basic earnings per share
59,823  62,133 
Effect of dilutive stock options and restricted stock units 175  284 
Weighted average common shares outstanding, used in computing diluted earnings per share
59,998  62,417 
Earnings per share:
Basic $ 0.71  $ 0.74 
Diluted $ 0.71  $ 0.74 
Anti-dilutive common shares (1)
1,996  1,574 
(1) Common stock related to stock options, service-based restricted stock units and certain 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.