Earning per Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings per Share

Schedule of basic and diluted net income per share

The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share amounts):

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2022			2021		2022			2021
Net income	$	54,490		$	18,330	$	68,997		$	32,180
Less income allocated to non-controlling interests		(107)			(91)		(202)			(179)
Less income allocated to participating securities:
Non-forfeitable dividends on participating securities		(133)			(113)		(270)			(233)
Income allocated to participating securities		(185)			—		(137)			—
Total net income allocated to participating securities		(318)			(113)		(407)			(233)
Net income available to common stockholders		54,065			18,126		68,388			31,768
Effect of dilutive securities:
Participating securities (1)		—			—		—			—
Net income for diluted net income per share	$	54,065		$	18,126	$	68,388		$	31,768
Shares for basic net income per share		39,492			39,169		39,347			39,135
Effect of dilutive securities:
Stock options		—	(2)		1		—	(2)		1
Performance-based stock units		173			—		173			—
Participating securities (1)		—			—		—			—
Total effect of dilutive securities		173			1		173			1
Shares for diluted net income per share		39,665			39,170		39,520			39,136
Basic net income per share	$	1.37		$	0.46	$	1.74		$	0.81
Diluted net income per share	$	1.36		$	0.46	$	1.73		$	0.81

(1) For the three and six months ended June 30, 2022, and 2021, the participating securities have been excluded from the computation of diluted net income per share as such inclusion would be anti-dilutive.

(2) For the three and six months ended June 30, 2022, stock options have been excluded from the computation of diluted net income per share as such inclusion would be anti-dilutive.