Income and Dividends Per Share of Common Stock (Tables)

9 Months Ended

Sep. 30, 2026

Income and Dividends Per Share of Common Stock

Schedule of computation of basic and diluted income per common share

The following table sets forth the computation of basic and diluted income per common share (in thousands, except per share amounts):


		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2026			2025			2026			2025
Net income for basic and diluted income per common share		$	38,042		$	38,782		$	103,134		$	103,726
Weighted-average shares for basic income per common share			28,689			28,639			28,682			28,633
Effect of dilutive securities:
Employee and director stock options⁽¹⁾			89			99			93			97
Adjusted weighted-average shares and assumed exercises for diluted income per common share			28,778			28,738			28,775			28,730
Basic net income per common share		$	1.33		$	1.35		$	3.60		$	3.62
Diluted net income per common share		$	1.32		$	1.35		$	3.58		$	3.61

(1)

Stock options are considered anti-dilutive if the exercise price exceeds the average per share market price for the period. No stock options were excluded for the 2026 periods due to being anti-dilutive. For the three- and nine-month periods ended September 30, 2025, 2 and 1 stock options were excluded, respectively, as anti-dilutive because the exercise price exceeded the average per share market price for the period.