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Net Income Per Common Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Net Income Per Common Share
16. Net Income Per Common Share
A summary of net income per common share is presented below:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands, except per share amounts)2024202320242023
Net income$131,093 $131,957 $324,232 $223,281 
Basic weighted-average common shares outstanding69,464 68,436 69,193 68,188 
Effect of dilutive stock options352 320 273 366 
Effect of dilutive restricted stock1,580 1,290 1,309 1,449 
Effect of convertible notes1,669 — 556 265 
Diluted weighted-average common shares outstanding73,065 70,046 71,331 70,268 
Basic income per common share$1.89 $1.93 $4.69 $3.27 
Diluted income per common share$1.79 $1.88 $4.55 $3.18 
Antidilutive securities excluded from diluted net income per common share144 435 855 422 
Impact of the Convertible Notes
The Company considered whether the Notes are participating securities through the two-class method. Per the terms of the Notes’ agreement, the Company determined that if a cash dividend is paid that is greater than the then stock price, the holder of Notes will receive cash on an if-converted basis. While this feature is considered to be a participating right, basic earnings per share is only impacted if the Company’s earnings exceeds the current share price, regardless of whether such dividend is declared. During the three and nine months ended September 30, 2024 and 2023, no such dividend was declared. In addition, the Company is required to settle the principal amount of the Notes in cash upon conversion, and therefore, the Company uses the if-converted method for calculating any potential dilutive effect of the conversion option on diluted net income per share, if applicable, unless the application of the two-class method is dilutive. The conversion option has a dilutive impact on net income per share of Common Stock when the average price per share of the Company's common stock for a given period exceeds the conversion price of the Notes of $79.81 per share. See Note 11, "Long-Term Debt, Net, and Other Borrowings" for further discussion on the Notes.