XML 38 R20.htm IDEA: XBRL DOCUMENT v3.22.2.2
Stockholders' Equity and Earnings Per Share
9 Months Ended
Sep. 30, 2022
Stockholders' Equity and Earnings Per Share [Abstract]  
Stockholders' Equity and Earnings Per Share Stockholders’ Equity and Earnings Per Share
The following table presents the basic and diluted EPS calculations for the three and nine months ended September 30, 2022 and 2021. For more information on the calculation of EPS, see Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Earnings Per Share to the Consolidated Financial Statements of the Company’s 2021 Form 10-K.
($ and shares in thousands, except per share data)Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Basic:
Net income$295,339 $225,449 $791,320 $655,185 
Weighted-average number of shares outstanding140,917 141,880 141,453 141,799 
Basic EPS$2.10 $1.59 $5.59 $4.62 
Diluted:
Net income$295,339 $225,449 $791,320 $655,185 
Weighted-average number of shares outstanding 140,917 141,880 141,453 141,799 
Add: Dilutive impact of unvested RSUs1,094 1,263 1,148 1,252 
Diluted weighted-average number of shares outstanding142,011 143,143 142,601 143,051 
Diluted EPS$2.08 $1.57 $5.55 $4.58 

For the three and nine months ended September 30, 2022, approximately 61 thousand and 58 thousand weighted-average shares of anti-dilutive RSUs, respectively, were excluded from the diluted EPS computations. In comparison, two thousand and six thousand weighted-average shares of anti-dilutive RSUs were excluded from the diluted EPS computations for the three and nine months ended September 30, 2021, respectively.

Stock Repurchase Program — In 2020, the Company’s Board of Directors authorized a stock repurchase program to buy back up to $500.0 million of the Company’s common stock. For the three months ended September 30, 2022, there were no share repurchases. For the nine months ended September 30, 2022, the Company repurchased 1,385,517 shares at an average price of $72.17 per share at a total cost of $100.0 million. The Company did not repurchase any shares during the three and nine months ended September 30, 2021.