Earnings per Share (EPS)

9 Months Ended

Sep. 30, 2025

The calculation of basic and diluted EPS is presented below. The sum of the EPS amounts may not equal the totals due to rounding.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Numerator:
Income from continuing operations	$	51,963	$	122,586	$	117,360	$	144,565
Loss from discontinued operations, net of tax	—		(261,058)		—		(310,789)


Net income (loss)	$	51,963	$	(138,472)	$	117,360	$	(166,224)
Denominator:
Weighted-average shares used in basic EPS	168,908		180,242		176,822		178,695
Dilutive effect of common stock equivalents	1,462		3,596		1,553		3,750
Weighted-average shares used in diluted EPS	170,370		183,838		178,375		182,445

Basic earnings (loss) per share:
Continuing operations	$	0.31	$	0.68	$	0.66	$	0.81
Discontinued operations	—		(1.45)		—		(1.74)
Net income (loss)	$	0.31	$	(0.77)	$	0.66	$	(0.93)

Diluted earnings (loss) per share:
Continuing operations	$	0.30	$	0.67	$	0.66	$	0.79
Discontinued operations	—		(1.42)		—		(1.70)
Net income (loss)	$	0.30	$	(0.75)	$	0.66	$	(0.91)

Common stock equivalents excluded from calculation of diluted earnings per share because their impact would be anti-dilutive:
Stock-based compensation awards	4,646		4,833		4,646		6,839
Convertible senior notes	16,135		—		16,135		—
Total	20,781		4,833		20,781		6,839

We utilize the control number concept in the computation of diluted earnings per share to determine whether potential common stock equivalents are dilutive. The control number used is income from continuing operations. The control number concept requires that the same number of potentially dilutive securities applied in computing diluted earnings per share from continuing operations be applied to all other categories of income or loss, regardless of their anti-dilutive effect on such categories.