Net and Comprehensive Income per Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Net and Comprehensive Income per Share

Net and comprehensive income per share

Basic and diluted net and comprehensive income per share were calculated by dividing net and comprehensive income by the number of basic and diluted weighted-average common shares outstanding. The Company has elected to not adjust net and comprehensive income for forfeitable dividend equivalents, when declared, related to unvested equity awards. The Company will recognize dividends paid on common shares when the dividend equivalents are no longer forfeitable, such as if the contingency is met or the share-based payment awards vest into common shares.

Basic and diluted net and comprehensive income per share are as follows (amounts in thousands, except per share data):

	Year Ended
	December 31,
	2024		2023		2022
Numerator
Net and comprehensive income	$	68,550	$	125,239	$	136,634
Denominator—Weighted Average Shares Outstanding
Weighted-average number of common shares outstanding, basic	140,072,148		139,471,110		138,094,180
Effect of dilutive restricted stock (1) (2)	619,852		625,622		1,511,370
Weighted-average number of common shares outstanding, diluted	140,692,000		140,096,732		139,605,550
Net and Comprehensive Income Per Share
Net and comprehensive income per share, basic	$	0.49	$	0.90	$	0.99
Net and comprehensive income per share, diluted	$	0.49	$	0.89	$	0.98

(1) During the years ended December 31, 2024, 2023 and 2022, 418,953, 539,283 and 583,118, respectively, shares of unvested restricted stock, RSUs and PSUs were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive.

(2) Excluded from the calculation of the effect of dilutive restricted stock as of December 31, 2024, 2023, and 2022 were 426,756, 571,058, and 513,125 PSUs, respectively, because they did not meet the required performance criteria.