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Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2024
Earnings Per Share, Basic [Abstract]  
Basic and Diluted Weighted Average Shares Outstanding

A reconciliation of basic and diluted weighted average shares outstanding is as follows:

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

(Amounts in thousands, except per share data)

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

3,321

 

 

$

20,064

 

 

$

5,415

 

 

$

48,893

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares used in computing net income per share - basic

 

 

55,884

 

 

 

55,705

 

 

 

55,838

 

 

 

55,648

 

Effect of dilutive shares:

 

 

 

 

 

 

 

 

 

 

 

 

Options and stock units

 

 

391

 

 

 

451

 

 

 

437

 

 

 

487

 

Convertible senior notes(1)

 

 

159

 

 

 

701

 

 

 

202

 

 

 

797

 

Dilutive effect of unvested performance stock units

 

 

 

 

 

1

 

 

 

 

 

 

1

 

Dilutive potential common shares

 

 

550

 

 

 

1,153

 

 

 

639

 

 

 

1,284

 

Denominator for diluted earnings per share - adjusted
     weighted average shares used in computing
     earnings per share - diluted

 

 

56,434

 

 

 

56,858

 

 

 

56,477

 

 

 

56,932

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.06

 

 

$

0.36

 

 

$

0.10

 

 

$

0.88

 

Diluted

 

$

0.06

 

 

$

0.35

 

 

$

0.10

 

 

$

0.86

 

(1)
Represents the dilutive impact for the Company's 2019 Notes. As of June 30, 2024, the if-converted value is less than the outstanding principal of the 2023 Notes and are therefore anti-dilutive. Refer to Note 8, "Convertible Senior Notes," above for more information.