EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2024

EARNINGS PER SHARE

EARNINGS PER SHARE

16. EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding. Diluted net income per share of common is computed under the treasury stock method by using the weighted average number of shares of common stock outstanding, plus, for periods with net income, the potential dilutive effects of stock options, stock appreciation rights and restricted stock units.

The following table sets forth the computation of basic and diluted net income per share:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Numerator
Net income	$	11,591	$	34,300	$	49,925	$	63,785
Denominator
Net income per share of common stock - basic	$	0.20	$	0.57	$	0.88	$	1.07
Net income per share of common stock- diluted	$	0.20	$	0.56	$	0.87	$	1.05
Weighted average number of shares of common stock - basic		56,802,357		59,974,123		56,786,873		59,853,808
Weighted average number of shares of common stock - diluted		57,541,696		60,743,953		57,571,570		60,997,410

Securities outstanding that were included in the computation above, utilizing the treasury stock method are as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Stock options, SARs, and RSUs to purchase common stock		739,339		769,830		784,697		1,143,602

Potential shares of common stock issuable that were excluded from the computation of diluted weighted-average shares outstanding excluded from the numerator, are as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Stock options, SARs, and RSUs to purchase common stock		7,629,250		5,520,235		7,583,892		5,146,464