EARNINGS PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2023

The following table sets forth the computation of basic and diluted earnings per common share (common shares in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator:
Net Income, basic	$	56,040	$	27,664	$	106,892	$	148,462
Add: Interest expense, net of tax, on the Company's convertible debt	937		—		1,873		1,871
Net Income, diluted	$	56,977	$	27,664	$	108,765	$	150,333
Denominator:
Weighted-average common shares outstanding, basic	187,948		185,254		187,311		184,710
Effect of dilutive securities:
Issuances under equity incentive plans	3,080		2,194		3,475		2,416
Common stock issuable under the Company’s convertible debt(1)	3,970		—		3,970		3,970
Weighted-average common shares outstanding, diluted	194,998		187,448		194,756		191,096
Earnings per common share, basic	$	0.30	$	0.15	$	0.57	$	0.80
Earnings per common share, diluted	$	0.29	$	0.15	$	0.56	$	0.79

Schedule Of Anti-Dilutive Common Stock Excluded From Computation of Diluted Net Loss Per Share

In addition to the equity instruments included in the table above, the table below presents potential shares of common stock that were excluded from the computation of diluted earnings per common share as they were anti-dilutive (in thousands):


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
Issuances under equity incentive plans	8,716	10,659	8,321	10,438
Common stock issuable under the Company’s convertible debt (1)	4,365	8,335	4,365	4,365
Total number of potentially issuable shares	13,081	18,994	12,686	14,803

(1) Shares of the Company’s common stock issuable under its convertible debt are due in 2024 or 2027. If converted, the Company would issue 4.0 million shares under the convertible debt due in 2024 and 4.4 million shares under the convertible debt due in 2027.