Net Income Per Share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Schedule of Net Income Per Share, Basic and Diluted

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)	2023		2022
Net income—basic and diluted	$	157,757	$	181,131
Average common shares outstanding—basic	158,304		176,816
Dilutive effect of share-based compensation arrangements (1)	3,045		2,263
Adjusted average common shares outstanding—diluted	161,349		179,079
Net income per share
Basic	$	1.00	$	1.02
Diluted	$	0.98	$	1.01

Schedule of Antidilutive Securities

The following number of shares of our common stock equivalents issued under our share-based compensation arrangements are not included in the calculation of diluted net income per share because they would be anti-dilutive.

	Three Months Ended March 31,
(In thousands)	2023	2022
Shares of common stock equivalents	25	—