Earnings Per Share

12 Months Ended

Dec. 31, 2023

11.

EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding for the period. Diluted earnings per share is computed in a similar manner to basic earnings per share after assuming the issuance of shares of common stock for all potentially dilutive equity incentive awards.

The following is a reconciliation of net income and the shares of common stock used in the computation of basic and diluted earnings per share:


	Year Ended December 31,
	2023		2022		2021
Numerator:
Net income	$	340,788	$	281,389	$	195,960
Denominator:
Basic weighted average shares outstanding		57,707		57,928		57,885
Dilutive effect of unvested restricted stock and restricted stock units		267		247		306
Diluted weighted average shares outstanding		57,974		58,175		58,191
Earnings per share:
Basic	$	5.91	$	4.86	$	3.39
Diluted	$	5.88	$	4.84	$	3.37