The numerator used in the calculation of both basic and diluted earnings per share is net income. The denominator used in the calculation of basic earnings per share is the weighted-average number of shares outstanding during the period. The denominator used in the calculation of diluted earnings per share is derived by adjusting basic shares outstanding for the dilutive effect of potential shares outstanding, which consist of time- and performance-based stock awards and employee stock purchase plan shares.

The following includes the computation of the denominator for basic and diluted weighted-average shares outstanding for the three months ended March 31, 2026 and 2025:


	Three Months Ended March 31,
(in thousands)	2026	2025

Weighted-Average Common Shares Outstanding – Basic	41,904	41,826
Effect of Dilutive Securities:
Stock Performance Awards	70	133
Restricted Stock Awards	96	101
Employee Stock Purchase Plan	1	2
Dilutive Effect of Potential Common Shares	167	236
Weighted-Average Common Shares Outstanding – Diluted	42,071	42,062

The number of shares excluded from diluted weighted-average common shares outstanding because such shares were anti-dilutive was not material for the three months ended March 31, 2026 and 2025.