Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2025

Earnings Per Share

Summary of basic and diluted earnings per share calculations

	Quarter ended March 31,
	2025		2024
	(in thousands, except per share amounts)
Net income	$	76,280	$	39,308
Weighted average shares of common stock outstanding		51,506		50,547
Effect of dilutive securities - shares issuable under stock-based compensation plan		2,118		2,553
Weighted average diluted shares of common stock outstanding		53,624		53,100
Basic earnings per share	$	1.48	$	0.78
Diluted earnings per share	$	1.42	$	0.74

Schedule of anti-dilutive shares outstanding

	Quarter ended March 31,
	2025		2024
	(in thousands except for weighted average exercise price)
Performance-based RSUs (1)		597		681
Time-based RSUs		132		51
Stock options (2)		147		66
Total anti-dilutive units and options		876		798
Weighted average exercise price of anti-dilutive stock options (2)	$	95.84	$	84.93

(1) Certain performance-based RSUs were outstanding but not included in the computation of earnings per share because the performance thresholds included in such RSUs have not been achieved.

(2) Certain stock options were outstanding but not included in the computation of diluted earnings per share because the combination of the weighted-average exercise prices and average unamortized stock compensation cost exceeded the average market price of the outstanding options for the quarter.