Net Income Per Share (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Reconciliation of Denominators and Additional Shares That Are Excluded From the Calculation of EPS

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2023 and 2022 (in thousands, except for earnings per share):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Weighted-average shares:
Common shares outstanding	30,629		31,009		30,723		32,791
RSAs	21		21		21		21
Total weighted-average shares	30,650		31,030		30,744		32,812
Earnings per common share—Basic
Net income	$	70,550	$	66,027	$	204,512	$	176,698
Less: Undistributed earnings allocated to RSAs	(48)		(44)		(138)		(112)
Net income available to common shareholders—Basic	$	70,502	$	65,983	$	204,374	$	176,586

Net income per common share—Basic	$	2.30	$	2.13	$	6.65	$	5.39

Basic weighted-average common shares outstanding	30,629		31,009		30,723		32,791
Effect of diluted shares	1,133		1,244		1,116		1,307
Diluted weighted-average shares outstanding	31,762		32,253		31,839		34,098

Net income per common share—Diluted	$	2.22	$	2.05	$	6.42	$	5.18