Net Income Per Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per ShareBasic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding, while diluted net income per share is computed by dividing net income attributable to common stockholders by the sum of the weighted-average number of common shares outstanding and the weighted-average number of dilutive potential common shares. Dilutive potential common shares relate to our share-based compensation arrangements.

The calculation of basic and diluted net income per share is as follows.

Net income per share
	Three Months Ended March 31,
(In thousands, except per-share amounts)	2022		2021
Net income—basic and diluted	$	181,131	$	125,608
Average common shares outstanding—basic	176,816		193,439
Dilutive effect of share-based compensation arrangements	2,263		1,764
Adjusted average common shares outstanding—diluted	179,079		195,203
Net income per share
Basic	$	1.02	$	0.65
Diluted	$	1.01	$	0.64