Note 5 - Stockholders' Equity and Dilutive Equity Instruments |
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| Equity [Text Block] |
Earnings per share
For the six months ended June 30, 2025 and 2024, we reported net income from operations. Our diluted earnings per share for these periods is based on our weighted average common shares outstanding and is computed using the treasury stock method for our outstanding “in-the-money” warrants and restricted stock units.
Accumulated Other Comprehensive Income
The following tables present the changes in accumulated other comprehensive income (OCI) by component, net of tax:
Dilutive Equity Instruments
The following table presents the changes in the number of common shares, incremental “in-the-money” warrants and restricted stock units:
At June 30, 2024, we also had 782,993 “out-of-the-money” warrants outstanding and exercisable for 861,292 shares (based on a 1 warrant to a 1.1 share ratio) with an exercise price of $100.00, which expired November 14, 2024. No warrants or restricted stock units, whether in the money or out of the money, are included in our earnings per share calculations if the effect of such inclusion is antidilutive.
Common Stock Repurchases
On February 27, 2025, our Board of Directors (Board) approved a new $90.3 million share repurchase program. During the three months ended June 30, 2025, we repurchased and retired 1,379,723 shares for approximately $50.8 million excluding commissions and a 1% excise tax. During the six months ended June 30, 2025, we repurchased and retired 2,290,204 shares for approximately $90.0 million, excluding commissions and a 1% excise tax. During 2024, our Board approved several share repurchase programs aggregating $90.7 million. During the year ended December 31, 2024, we repurchased and retired 1,384,186 shares for approximately $90.7 million, excluding commissions and a 1% excise tax.
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