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Net Income Per Share (Tables)
3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
Schedule of Reconciliation of Denominators and Additional Shares that are Excluded from the Calculation of EPS

The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2021 and 2020 (in thousands, except for earnings per share): 

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2021

 

 

2020

 

Weighted-average shares:

 

 

 

 

 

 

 

 

Common shares outstanding

 

 

35,753

 

 

 

36,024

 

RSAs

 

 

116

 

 

 

95

 

Total weighted-average shares

 

 

35,869

 

 

 

36,119

 

Earnings per common share—Basic

 

 

 

 

 

 

 

 

Net income

 

$

43,306

 

 

$

28,954

 

Less: Undistributed earnings allocated to RSAs

 

 

140

 

 

 

76

 

Net income available to common shareholders—Basic

 

$

43,166

 

 

$

28,878

 

 

 

 

 

 

 

 

 

 

Net income per common share—Basic

 

$

1.21

 

 

$

0.80

 

 

 

 

 

 

 

 

 

 

Basic weighted-average common shares outstanding

 

 

35,753

 

 

 

36,024

 

Effect of diluted shares

 

 

1,996

 

 

 

2,006

 

Diluted weighted-average shares outstanding

 

 

37,749

 

 

 

38,030

 

 

 

 

 

 

 

 

 

 

Net income per common share—Diluted

 

$

1.14

 

 

$

0.76