| Earnings per Share |
Basic and diluted earnings per share for the three and six months ended June 30, 2022 and 2021, respectively consisted of the following (in thousands, except per share data):
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2022 |
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2021 |
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2022 |
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2021 |
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Numerator (Basic and Diluted): |
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$ |
42,168 |
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$ |
31,532 |
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$ |
74,951 |
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$ |
46,544 |
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Change in value for stock settled consideration |
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(24 |
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(42 |
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(38 |
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10 |
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$ |
42,144 |
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$ |
31,490 |
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$ |
74,913 |
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$ |
46,554 |
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Weighted average common shares issued and outstanding |
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39,936 |
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39,549 |
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39,829 |
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39,491 |
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(12 |
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(14 |
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(13 |
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(16 |
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124 |
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342 |
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202 |
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342 |
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Weighted average common shares outstanding |
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40,048 |
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39,877 |
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40,018 |
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39,817 |
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Basic earnings per common share |
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$ |
1.05 |
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$ |
0.79 |
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$ |
1.87 |
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$ |
1.17 |
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Weighted average common shares outstanding from above |
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40,048 |
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39,877 |
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40,018 |
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39,817 |
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Add: Dilutive effect of RSUs, RSAs & ESPP |
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213 |
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149 |
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291 |
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182 |
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Add: Contingently issuable shares
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81 |
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113 |
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81 |
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113 |
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Weighted average common shares outstanding |
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40,342 |
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40,139 |
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40,390 |
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40,112 |
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Diluted earnings per common share |
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$ |
1.04 |
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$ |
0.78 |
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$ |
1.85 |
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$ |
1.16 |
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Antidilutive shares excluded from diluted earnings per common share
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843 |
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48 |
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843 |
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275 |
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(1) |
RSAs were issued and outstanding to the non-employee directors and have a one-year vesting term subject to service requirements. See Note 9 – “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 9 – “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. |
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