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Earnings Per Share
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share
10.
EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during 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:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

67,970

 

 

$

64,516

 

 

$

315,157

 

 

$

183,812

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

56,451

 

 

 

57,920

 

 

 

56,499

 

 

 

57,895

 

Dilutive effect of unvested restricted stock and restricted stock units

 

 

320

 

 

 

113

 

 

 

49

 

 

 

155

 

Diluted weighted average shares outstanding

 

 

56,771

 

 

 

58,033

 

 

 

56,548

 

 

 

58,050

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.20

 

 

$

1.11

 

 

$

5.58

 

 

$

3.17

 

Diluted

 

$

1.20

 

 

$

1.11

 

 

$

5.57

 

 

$

3.17