XML 34 R22.htm IDEA: XBRL DOCUMENT v3.25.2
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
Basic earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities include outstanding stock options, unvested equity-settled RSUs and the stock to be issued under the Company’s ESPP. The dilutive effect of potentially dilutive securities is reflected in diluted earnings per share by application of the treasury stock method.
The following table sets forth the computation of basic and diluted earnings per share of common stock as follows:
 Three Months Ended
June 30,		Six Months Ended
June 30,
 2025202420252024
Numerator for basic and diluted earnings per share:
Net income$88,026 $98,645 $161,508 $214,888 
Numerator for basic and diluted earnings per share$88,026 $98,645 $161,508 $214,888 
Denominator:  
Weighted average common shares for basic earnings per share56,319 57,594 56,548 57,716 
Net effect of dilutive stock options, restricted stock units, restricted stock awards and stock issuable under the ESPP217 555 350 824 
Weighted average common shares for diluted earnings per share
56,536 58,149 56,898 58,540 
Net income per share:  
Basic$1.56 $1.71 $2.86 $3.72 
Diluted$1.56 $1.70 $2.84 $3.67 
The number of shares underlying equity-based awards that were excluded from the calculation of diluted earnings per share as their effect would be anti-dilutive was 1,409 thousand and 1,199 thousand during the three and six months ended June 30, 2025, respectively.
The number of shares underlying equity-based awards that were excluded from the calculation of diluted earnings per share as their effect would be anti-dilutive was 1,379 thousand and 871 thousand during the three and six months ended June 30, 2024, respectively.