EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2022

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


	For the years ended December 31,
	2022		2021		2020
Numerator for basic and diluted earnings per share:
Net income	$	411,744	$	203,247	$	134,837
Denominator:
Weighted basic shares outstanding	54,223		54,514		55,479
Dilutive effect of equity-based compensation awards	264		247		211
Weighted dilutive shares outstanding	54,487		54,761		55,690

Basic earnings per share	$	7.59	$	3.73	$	2.43
Diluted earnings per share	$	7.56	$	3.71	$	2.42

For the year ended December 31, 2022, all then outstanding performance stock awards and restricted stock awards were included in the calculation of diluted earnings per share except for 10,250 of restricted stock awards which were excluded as their inclusion would have had an antidilutive effect. For the years ended 2021 and 2020, all the outstanding performance stock awards and restricted stock awards were included in the calculation of diluted earnings per share except for 14,237 and 53,667, respectively, of performance stock awards for which the performance criteria were not yet attained at the reporting dates and 67,981 and 8,878, respectively, of restricted stock awards which were excluded as their inclusion would have had an antidilutive effect.