PIPER SANDLER COMPANIES
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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FY2023 · Filed Feb 26, 2024
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Earnings Per Share
NOTE 23| EARNINGS PER SHARE
Basic earnings per common share is computed by dividing net income attributable to Piper Sandler Companies by the weighted average number of common shares outstanding for the period. Diluted earnings per common share is calculated by adjusting the weighted average outstanding shares to assume conversion of all potentially dilutive stock options, restricted stock units and restricted shares. The Company uses the treasury stock method to calculate diluted earnings per common share.
The computation of EPS is as follows:
| Year Ended December 31, | |||
|---|---|---|---|
| (Amounts in thousands, except per share data) | 2023 | 2022 | 2021 |
| Net income attributable to Piper Sandler Companies | $85,491 | $110,674 | $278,514 |
| Shares for basic and diluted calculations | |||
| Average shares used in basic computation | 14,958 | 13,982 | 14,265 |
| Stock options | 25 | 16 | 14 |
| Restricted stock units | 163 | 196 | 187 |
| Restricted shares | 2,079 | 2,771 | 2,488 |
| Average shares used in diluted computation | 17,224 | 16,965 | 16,955 |
| Earnings per common share | |||
| Basic | $5.72 | $7.92 | $19.52 |
| Diluted | $4.96 | $6.52 | $16.43 |
The anti-dilutive effects from stock options and restricted shares were immaterial for the years ended December 31, 2023, 2022 and 2021.
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