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Net Income per Common Share (Tables)
3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
Summary of Calculation of Basic and Diluted EPS

The table below presents the calculation of basic and diluted EPS:

 

 

 

Three Months Ended
March 31,

 

 

 

2023

 

 

2022

 

 

 

(in thousands, except per share amounts)

 

Numerator:

 

 

 

 

 

 

Net income

 

$

333,786

 

 

$

639,640

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

Weighted average shares outstanding, basic

 

 

137,074

 

 

 

177,120

 

Dilutive effect of options and RSUs

 

 

1,338

 

 

 

2,426

 

Weighted average shares outstanding, diluted

 

 

138,412

 

 

 

179,546

 

 

 

 

 

 

 

 

Net income per share:

 

 

 

 

 

 

Basic

 

$

2.44

 

 

$

3.61

 

Diluted

 

$

2.41

 

 

$

3.56

 

 

 

 

 

 

 

 

Antidilutive and contingent RSUs excluded from diluted EPS

 

 

1

 

 

 

71