Earnings per Common Share

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Earnings per Common Share

Earnings per Common Share

Basic earnings per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per common share adjusts basic earnings per common share for the effects of potentially dilutive common shares. Potentially dilutive common shares include the dilutive effects of shares issuable upon exercise or vesting of outstanding awards under our equity compensation plans, including stock options and share-based awards (restricted share awards, restricted stock units and performance stock units), each using the treasury stock method.

	Year Ended December 31,
	2025		2024		2023
Numerator — basic and diluted
Net income	$	270,871	$	280,088	$	274,892
Denominator
Weighted average number of common shares outstanding — basic	32,531		35,208		33,924
Effect of dilutive share-based awards	318		517		559
Effect of dilutive stock options	32		120		295
Effect of dilutive convertible notes (1)	—		—		868
Weighted average number of common shares outstanding — diluted	32,881		35,845		35,646
Earnings per common share — basic	$	8.33	$	7.96	$	8.10
Earnings per common share — diluted	$	8.24	$	7.81	$	7.71
Antidilutive stock options and share-based awards	217		45		5

(1)    On August 17, 2023, we issued a total of 1,460,740 shares of our common stock to holders in connection with the conversion of their 2.0% convertible senior notes due 2023 at maturity.