Company: UVSP
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000102212-25-000006
Chunk: 29

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 29
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-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses". This ASU requires new financial statement disclosures in tabular format, disaggregating information about prescribed categories underlying any relevant income statement expense caption. This ASU is effective for public business entities for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. This ASU applies on a prospective basis for periods beginning after the effective date. However, retrospective application to any or all prior periods presented is permitted. The Corporation does not expect the adoption of this ASU will have a material impact on the Corporation's financial statements.

In November 2024, the FASB issued ASU No. 2024-04, "Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments". This ASU clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. This ASU is effective for all entities for annual and interim periods in fiscal years beginning after December 15, 2025. Early adoption is permitted for all entities that have adopted the amendments in ASU 2020-06. The Corporation does not expect the adoption of this ASU will have a material impact on the Corporation's financial statements. 

Note 2.     Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share: For the Years Ended December 31,(Dollars and shares in thousands, except per share data)202420232022Numerator for basic and diluted earnings per share—net income available to common shareholders$75,931 $71,104 $78,120 Denominator for basic earnings per share—weighted-average shares outstanding29,215 29,433 29,393 Effect of dilutive securities—stock options and restricted stock units186 100 158 Denominator for diluted earnings per share—adjusted weighted-average shares outstanding29,401 29,533 29,551 Basic earnings per share$2.60 $2.42 $2.66 Diluted earnings per share$2.58 $2.41 $2.64 Average anti-dilutive options and restricted stock units excluded from computation of diluted earnings per share195 293