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Net Income per Common Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Net Income per Common Share | 4. Net Income per Common Share Net income per common share (“EPS”) is calculated in accordance with the Earnings per Share topic of the FASB Accounting Standards Codification, which requires the presentation of basic and diluted EPS. Basic EPS is computed using the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the weighted average number of common shares outstanding during the period, plus the dilutive effect of potential common shares. The table below presents the calculation of basic and diluted EPS:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (in thousands, except per share amounts) |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 284,783 |  |  | $ | 451,457 |  |  | $ | 887,654 |  |  | $ | 1,189,862 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding, basic |  |  | 116,176 |  |  |  | 124,577 |  |  |  | 119,120 |  |  |  | 129,521 |
Dilutive effect of options and RSUs |  |  | 764 |  |  |  | 1,215 |  |  |  | 996 |  |  |  | 1,213 |
Weighted average shares outstanding, diluted |  |  | 116,940 |  |  |  | 125,792 |  |  |  | 120,116 |  |  |  | 130,734 |
Net income per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 2.45 |  |  | $ | 3.62 |  |  | $ | 7.45 |  |  | $ | 9.19 |
Diluted |  | $ | 2.44 |  |  | $ | 3.59 |  |  | $ | 7.39 |  |  | $ | 9.10 |
Antidilutive and contingent RSUs excluded from diluted EPS |  |  | 271 |  |  |  | 5 |  |  |  | 196 |  |  |  | 3 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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