Annual report pursuant to Section 13 and 15(d)

Earnings per Share

v3.22.4
Earnings per Share
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Earnings per Share
14.    Earnings per Share
Basic and diluted earnings per share for the years ended December 31, 2022, 2021, and 2020 consisted of the following (in thousands, except per share data):
Years Ended December 31,
2022 2021 2020
Numerator (Basic and Diluted):
Net income $ 104,225  $ 142,470  $ 42,838 
Change in value for stock settled consideration (37) 27  (3)
Adjusted net income $ 104,188  $ 142,497  $ 42,835 
Denominator:
Basic
Weighted Average Common Shares Issued and Outstanding 39,751 39,575 39,318
Deduct: Unvested RSAs (1)
(12) (14) (18)
Add: Fully vested DSUs (2)
154 327 342
Weighted Average Common Shares Outstanding 39,893 39,888 39,642
Basic earnings per common share $ 2.61  $ 3.57  $ 1.08 
Diluted
Weighted Average Common Shares Outstanding from above 39,893 39,888 39,642
Add: Dilutive effect of RSUs, RSAs & ESPP 207 206 67
Add: Contingently issuable shares (3)
86 93 26
Weighted Average Common Shares Outstanding 40,186 40,187 39,735
Diluted earnings per common share $ 2.59  $ 3.55  $ 1.08 
Antidilutive shares excluded from diluted earnings per common share (4)
1,084 366 684
(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 were not yet 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.