Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Schedule of common stock equivalents excluded in the calculation of diluted earnings per share

In addition to the above described effect of the 2023 Notes and the related Convertible Note Hedge and Warrant Transactions, the Company also excluded the common stock equivalents of the following outstanding stock-based awards in the calculation of diluted EPS, because their inclusion would be anti-dilutive:

	Three Months Ended March 31,
	2023	2022
	(unaudited)
Stock options, RSUs, PSUs	240,398	1,067,231

Schedule of computation of basic and diluted earnings per share

The following table sets forth the computation of basic and diluted net earnings per share for the three months ended March 31, 2023 and 2022 under the if-converted method (dollars in thousands, except share and per share amounts):

	Three Months Ended March 31,
	2023		2022
	(unaudited)
Numerator:
Net earnings	$	16,948	$	25,616
After-tax interest expense for 2023 Notes	892		887
Numerator for dilutive earnings per share	$	17,840	$	26,503
Denominator:
Weighted average shares outstanding, basic	54,380,947		53,330,837
Effect of dilutive securities:
Stock options, RSUs and SARs	1,289,321		1,291,782
Convertible notes	6,783,936		6,783,936
Weighted average shares outstanding, diluted	62,454,204		61,406,555
Earnings per share, basic	$	0.31	$	0.48
Earnings per share, diluted	$	0.29	$	0.43