Net Income Per Share Attributable to Common Stockholders

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Net Income Per Share Attributable to Common Stockholders

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 units and Equity-settled SARs.

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 March 31,
	2024		2023
Net income attributable to common stockholders	$	37,964	$	17,222
Weighted average number of shares of common stock used in computing net income per share attributable to common stockholders, basic	74,383,265		73,890,162
Net income per share attributable to common stockholders, basic	$	0.51	$	0.23
Weighted average shares used in computing net income per share attributable to common stockholders, basic	74,383,265		73,890,162
Effect of dilutive shares:
Stock options	133,743		103,459
Unvested RSUs	470,723		371,655
Equity-settled SARs	281,895		5,077
Diluted number of weighted-average shares outstanding	75,269,626		74,370,353
Net income per share attributable to common stockholders, diluted	$	0.50	$	0.23

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

	Three Months Ended March 31,
	2024	2023
Equity-settled SARs	53,860	1,550,357
Total	53,860	1,550,357