Net Income Per Common Share

3 Months Ended

Mar. 31, 2022

Note 8 - Net Income Per Common Share

The following table displays a reconciliation of the information used in calculating basic and diluted net income per common share for the three months ended March 31, 2022 and 2021. Diluted net income per common share incorporates the potential impact of contingently issuable shares, including awards which require future service as a condition of delivery of the underlying common stock.


	Three Months Ended March 31,
(in thousands, except per share data)	2022		2021
Basic Net Income Per Common Share:
Net income available to common shareholders	$	162,746	$	178,802
Weighted average common shares outstanding	145,273		148,467
Net income per common share, basic	$	1.12	$	1.20
Diluted Net Income Per Common Share:
Net income available to common shareholders	$	162,746	$	178,802
Weighted average common shares outstanding	145,273		148,467
Effect of dilutive outstanding equity-based awards and earnout payments	1,392		1,313
Weighted average diluted common shares	146,665		149,780
Net income per common share, diluted	$	1.11	$	1.19

For the three months ended March 31, 2022, there were no potentially dilutive shares, and for the three months ended March 31, 2021, there were 32 thousand related to stock options to purchase shares of common stock that were outstanding. These potentially dilutive shares were not included in the computation of diluted net income per common share because the effect would be anti-dilutive.