Earnings per Share (EPS) and Common Stock

3 Months Ended

Dec. 31, 2024

Earnings Per Share And Common Stock [Abstract]

Earnings per Share (EPS) and Common Stock

4. Earnings per Share (EPS) and Common Stock

EPS

The following table presents the calculation for both basic and diluted EPS:

(in thousands, except per share data)	Three months ended
	December 31, 2024		December 31, 2023
Net income	$	82,232	$	66,387
Weighted-average shares outstanding—Basic		120,243		119,124
Dilutive effect of restricted stock units		902		1,126
Weighted-average shares outstanding—Diluted		121,145		120,250
Earnings per share—Basic	$	0.68	$	0.56
Earnings per share—Diluted	$	0.68	$	0.55

Anti-dilutive shares were immaterial for the three months ended December 31, 2024 and December 31, 2023.

Common Stock Repurchases

Our Articles of Organization authorize us to issue up to 500 million shares of our common stock. Our Board of Directors has authorized us to repurchase up to $2 billion of our common stock in the period October 1, 2024 through September 30, 2027. In the three months ended December 31, 2024, we repurchased 0.4 million shares for $75 million. We did not repurchase any shares in the three months ended December 31, 2023. All shares of our common stock repurchased are automatically restored to the status of authorized and unissued.