Earnings Per Common Share

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Earnings Per Common Share

Note 13—Earnings Per Common Share

Basic and diluted earnings per common share are computed by dividing net income by the weighted-average number of basic and diluted common shares outstanding, respectively. The weighted-average number of diluted common shares includes the impact of dilutive securities, including outstanding stock options, RSUs, PSUs and DSUs. The table below reconciles the weighted-average basic and diluted common shares outstanding:

	Three Months Ended March 31,
	2025		2024
	(in thousands, except for per share amounts)
Numerator for basic and diluted earnings per share:
Net income	$	17,228	$	15,309
Denominator
Weighted average number of common shares outstanding - basic	73,670		73,926
Effect of dilutive securities1	291		129
Weighted average number of common shares outstanding - diluted	73,961		74,055
Basic earnings per share:	$	0.23	$	0.21
Diluted earnings per share:	$	0.23	$	0.21

1.Certain outstanding equity awards are anti-dilutive and therefore were excluded from the calculation of the weighted average number of diluted common shares outstanding.

Anti-dilutive outstanding equity awards under share-based compensation plans were as follows:

	Three Months Ended March 31,
	2025	2024
	(in thousands)
Anti-dilutive equity awards	3,518	2,689