Net Income Per Share Attributable to Common Stockholders

6 Months Ended

Jun. 30, 2023

Net Income Per Share Attributable to Common Stockholders

Basic net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding for the period. For the calculation of diluted net income per share, the basic weighted average number of shares of common stock outstanding is increased by the dilutive effect (if any) of stock options, restricted stock awards, restricted stock units and stock appreciation rights.

The following table provides a reconciliation of the numerators and denominators used in computing basic and diluted net income per share attributable to common stockholders:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Net income attributable to common stockholders	$	32,877	$	25,340	$	50,099	$	47,559

Weighted average number of shares of common stock used in computing net income per share attributable to common stockholders, basic	73,986,326		73,631,588		73,938,510		73,601,852
Net income per share attributable to common stockholders, basic	$	0.44	$	0.34	$	0.68	$	0.65

Weighted average shares used in computing net income per share attributable to common stockholders, basic	73,986,326		73,631,588		73,938,510		73,601,852
Effect of dilutive shares:
Stock options	120,681		—		112,271		—
Unvested RSUs	326,913		60,690		235,820		49,320
SARs	71,238		—		38,979		—
Diluted number of weighted-average shares outstanding	74,505,158		73,692,278		74,325,580		73,651,172
Net income per share attributable to common stockholders, diluted	$	0.44	$	0.34	$	0.67	$	0.65

The following securities were not included in the computation of diluted shares because such securities did not have a dilutive effect.


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
Stock options	—	803,306	—	803,306
SARs	1,571,831	2,659,388	1,571,831	2,659,388
RSUs	53,055	769,095	53,055	406,897
Total	1,624,886	4,231,789	1,624,886	3,869,591