EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share Abstract

Earnings per share calculation

A summary of the earnings per share calculation is as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands, except per share amounts)	2022		2021		2022		2021
Basic earnings per share:
Net income	$	45,964	$	42,034	$	148,036	$	123,713
Weighted-average common shares		57,172		60,319		58,039		60,350
Basic earnings per share	$	0.80	$	0.70	$	2.55	$	2.05
Diluted earnings per share: (1)
Net income	$	45,964	$	42,034	$	148,036	$	123,713
Weighted-average common shares		57,172		60,319		58,039		60,350
Effect of dilutive awards:
Employee stock plans		431		1,044		596		1,116
Diluted weighted-average common shares		57,603		61,363		58,635		61,466
Diluted earnings per share	$	0.80	$	0.69	$	2.52	$	2.01

(1) The Company includes the shares underlying performance-based awards in the calculation of diluted earnings per share if the performance conditions have been satisfied as of the end of the reporting period and excludes such shares when the necessary conditions have not been met. The Company has excluded the shares underlying the outstanding performance-based awards in the 2022 and 2021 calculations as the shares were not contingently issuable as of the end of the reporting periods.