EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2022

The following are computations of basic and diluted earnings per share (in thousands, except per share amounts):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Numerator for basic and diluted earnings per share:
Net income	$	148,157	$	67,075	$	193,471	$	88,811

Denominator:
Weighted-average basic shares outstanding	54,318		54,529		54,362		54,625
Dilutive effect of outstanding stock awards	279		325		277		320
Dilutive shares outstanding	54,597		54,854		54,639		54,945

Basic earnings per share:	$	2.73	$	1.23	$	3.56	$	1.63

Diluted earnings per share:	$	2.71	$	1.22	$	3.54	$	1.62

For the three months ended June 30, 2022 and 2021, all then outstanding performance awards and restricted stock awards were included in the calculation of diluted earnings per share except for 104,700 and 33,708, respectively, of performance stock awards for which the performance criteria were not attained at the reporting dates and 8,376 and 500, respectively, of restricted stock awards which were excluded as their inclusion would have an antidilutive effect.

For the six months ended June 30, 2022 and 2021, all then outstanding performance awards and restricted stock awards were included in the calculation of diluted earnings per share except for 104,700 and 33,708, respectively, of performance stock awards for which the performance criteria were not attained at the reporting dates and 25,876 and 12,604, respectively, of restricted stock awards which were excluded as their inclusion would have an antidilutive effect.