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Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Summary of Reconciliation of Basic Earnings Per Share and Diluted Earnings Per Share

The following table sets forth the reconciliation of basic earnings per share and diluted earnings per share from net income for the three months ended March 31, 2022 and 2021:

 

 

 

Three Months Ended

March 31,

 

(in thousands except per share amounts)

 

2022

 

 

2021

 

Net income

 

$

71,273

 

 

$

65,202

 

Shares:

 

 

 

 

 

 

 

 

Basic: Weighted average number of shares outstanding

 

 

68,747

 

 

 

67,761

 

Plus: Incremental shares from assumed conversion of dilutive instruments

 

 

4,905

 

 

 

6,347

 

Diluted: Weighted average number of shares outstanding

 

 

73,652

 

 

 

74,108

 

Earnings per share

 

 

 

 

 

 

 

 

Basic:

 

$

1.04

 

 

$

0.96

 

Diluted:

 

$

0.97

 

 

$

0.88