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Net Income per Common Share (Tables)
3 Months Ended
Mar. 31, 2025
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,

 

 

 

2025

 

 

2024

 

 

 

(in thousands, except per share amounts)

 

Numerator:

 

 

 

 

 

 

Net income

 

$

96,304

 

 

$

258,781

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

Weighted average shares outstanding, basic

 

 

113,675

 

 

 

121,972

 

Dilutive effect of options and RSUs

 

 

664

 

 

 

1,399

 

Weighted average shares outstanding, diluted

 

 

114,339

 

 

 

123,371

 

 

 

 

 

 

 

 

Net income per share:

 

 

 

 

 

 

Basic

 

$

0.85

 

 

$

2.12

 

Diluted

 

$

0.84

 

 

$

2.10

 

 

 

 

 

 

 

 

Antidilutive and contingent RSUs excluded from diluted EPS

 

 

82

 

 

 

36