Annual report pursuant to Section 13 and 15(d)

Earnings per Share (Tables)

v3.22.0.1
Earnings per Share (Tables)
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share, Including Antidilutive Securities Excluded from Computation of Earnings Per Share
Basic and diluted earnings per share for the years ended December 31, 2021, 2020 and 2019 consisted of the following (in thousands, except per share data):
 
 
  
Years Ended December 31,
 
 
  
2021
 
 
2020
 
 
2019
 
Numerator (Basic and Diluted):
  
 
 
Net income
    $ 142,470      $ 42,838      $ 76,930  
Change in value for stock settled consideration
      27        3        —    
    
 
 
     
 
 
     
 
 
  
Adjusted net income
    $ 142,497      $ 42,835      $ 76,930  
    
 
 
     
 
 
     
 
 
  
Denominator:
                           
Basic
                           
Weighted Average Common Shares Issued and Outstanding
      39,575        39,318        39,083  
Deduct: Unvested RSAs
(1)
      (14 )       (18 )       (21 ) 
Add: Fully vested DSUs
(2)
      327        342        342  
    
 
 
     
 
 
     
 
 
  
Weighted Average Common Shares Outstanding
      39,888        39,642        39,404  
    
 
 
     
 
 
     
 
 
  
Basic earnings per common share
    $ 3.57      $ 1.08      $ 1.95  
    
 
 
     
 
 
     
 
 
  
Diluted
                           
Weighted Average Common Shares Outstanding from above
      39,888        39,642        39,404  
Add: Dilutive effect of RSUs, RSAs & ESPP
      206        67        144  
Add: Contingently issuable shares
(3)
      93        26        —    
    
 
 
     
 
 
     
 
 
  
Weighted Average Common Shares Outstanding
      40,187        39,735        39,548  
    
 
 
     
 
 
     
 
 
  
Diluted earnings per common share
    $ 3.55      $ 1.08      $ 1.95  
    
 
 
     
 
 
     
 
 
  
Antidilutive shares excluded from diluted earnings per common share
(4)
      366        684        348  
    
 
 
     
 
 
     
 
 
  
 
 
 
(1)
RSAs were issued and outstanding to the
non-employee
directors and have a
one
-year
vesting term subject to service requirements. See Note 11 – “Stock-Based Compensation Plans” for additional information.
(2)
Shares are included in weighted average common shares outstanding as the shares are fully vested but have not yet been delivered. See Note 11 – “Stock-Based Compensation Plans” for additional information. 
(3)
Relates to contingently issuable stock settled consideration.
(4)
Primarily pertaining to RSU grants to the Company’s employees and independent contractors.