Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Computation of earnings per share and reconciliation of basic and diluted weighted average common shares outstanding

The table below presents the computation of earnings per share, including the reconciliation of basic and diluted weighted average shares outstanding (in thousands, except per share data):

	Year Ended December 31,
	2023		2022		2021
Net income	$	523,229	$	748,462	$	650,624
Amounts allocated to participating securities	(2,771)		(4,151)		(4,321)
Net income attributable to common stockholders	$	520,458	$	744,311	$	646,303
Weighted average common shares outstanding:
Basic	38,704		39,409		39,876
Effect of dilutive securities:
Stock options and employee stock purchase plan	293		397		604
Diluted	38,997		39,806		40,480
Earnings per share attributable to common stockholders:
Basic	$	13.45	$	18.89	$	16.21
Diluted	$	13.35	$	18.70	$	15.97
Anti-dilutive stock options excluded from diluted earnings per share computations (1)	64		34		1

(1)Since these options have exercise prices that are higher than the average market prices of our common stock, including them in the calculation would have an anti-dilutive effect on earnings per share.