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Earnings Per Share
 9 Months Ended
Sep. 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 September 30,

 

 

Nine Months Ended September 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

73,278

 

 

$

75,219

 

 

$

388,435

 

 

$

259,031

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

55,929

 

 

 

57,825

 

 

 

56,307

 

 

 

57,871

 

Dilutive effect of unvested restricted stock and restricted stock units

 

 

35

 

 

 

141

 

 

 

58

 

 

 

185

 

Diluted weighted average shares outstanding

 

 

55,964

 

 

 

57,966

 

 

 

56,365

 

 

 

58,056

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.31

 

 

$

1.30

 

 

$

6.90

 

 

$

4.48

 

Diluted

 

$

1.31

 

 

$

1.30

 

 

$

6.89

 

 

$

4.46