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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
The Company presents basic and diluted earnings per share for its common stock. Basic earnings per share is calculated by dividing the net income of the Company by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is determined by adjusting the profit or loss and the weighted average number of shares of common stock outstanding for the effects of all potentially dilutive securities.
The earnings are used as the basis of determining whether the inclusion of common stock equivalents would be anti-dilutive. The computation of diluted shares for the three and nine months ended September 30, 2024 and 2023 includes the effect of shares that would be issued in connection with warrants, stock options, restricted stock awards and performance stock unit awards, as these common stock equivalents are dilutive to the earnings per share recorded in those periods.
The following table presents the Company’s common stock equivalents that were excluded from the calculation of earnings per share as they would be anti-dilutive:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Stock option awards779,876 984,567 855,323 1,180,376 
Restricted stock awards324,877 16,564 365,835 569,831 
Performance stock unit awards— — 257,735 288,680 
The following table presents the Company’s basic earnings per share and shares outstanding (in thousands, except per share data):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Numerator:
Net income (1)$53,856 $56,302 $151,690 $209,913 
Denominator:
Weighted average number of common shares outstanding170,636 178,826 172,490 179,956 
Earnings per common share:
Earnings per common share, basic$0.32 $0.31 $0.88 $1.17 
(1) Net income for the nine months ended September 30, 2023 includes $62.8 million related to the termination payment received on behalf of Amedisys, under the terms of the Mutual Termination Agreement, net of merger-related expenses and taxes.
The following table presents the Company’s diluted earnings per share and shares outstanding (in thousands, except per share data):
Three Months Ended September 30,Nine Months Ended September 30,
 2024202320242023
Numerator:
Net income (1)$53,856 $56,302 $151,690 $209,913 
Denominator:
Weighted average number of common shares outstanding170,636 178,826 172,490 179,956 
Effect of dilutive securities1,305 1,702 1,358 1,330 
Weighted average number of common shares outstanding, diluted171,941 180,528 173,848 181,286 
Earnings per common share:
Earnings per common share, diluted$0.31 $0.31 $0.87 $1.16 
(1) Net income for the nine months ended September 30, 2023 includes $62.8 million related to the termination payment received on behalf of Amedisys, under the terms of the Mutual Termination Agreement, net of merger-related expenses and taxes.