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Earnings Per Share (Tables)
12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of 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,

 

 

2025

 

 

2024

 

 

2023

 

Net income

 

$

406,404

 

 

$

434,325

 

 

$

523,229

 

Amounts allocated to participating securities

 

 

(1,980

)

 

 

(2,250

)

 

 

(2,771

)

Net income attributable to common stockholders

 

$

404,424

 

 

$

432,075

 

 

$

520,458

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

Basic

 

 

37,149

 

 

 

38,007

 

 

 

38,704

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Stock options and employee stock purchase plan

 

 

139

 

 

 

221

 

 

 

293

 

Diluted

 

 

37,288

 

 

 

38,228

 

 

 

38,997

 

 

 

 

 

 

 

 

 

 

Earnings per share attributable to common stockholders:

 

 

 

 

 

 

 

 

 

Basic

 

$

10.89

 

 

$

11.37

 

 

$

13.45

 

Diluted

 

$

10.85

 

 

$

11.30

 

 

$

13.35

 

Anti-dilutive stock options excluded from diluted earnings
   per share computations
(1)

 

 

190

 

 

 

57

 

 

 

64

 

 

(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.