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Stockholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2023
Stockholders' Equity Note [Abstract] |
Schedule of Market Repurchase | Our open market repurchase programs are as follows:
Effective Date |  | Authorized Repurchase $ |  | Expiration Date
March 13, 2020 |  | $20 million |  | November 9, 2022
November 3, 2022 |  | $50 million |  | ** 1, 2
1 Expiration Date is at Board's discretion. The Company is authorized to effectuate repurchases of the Company's common stock on terms and conditions approved in advance by the Board.
2 As of September 30, 2023, there is approximately $25.0 million remaining under the current stock repurchase program.
Schedule of Share Repurchases | Our repurchase activity is as follows:
|  | Nine Months Ended
|  | September 30, 2023 |  | September 30, 2022
|  | (in thousands, except share and per share data)
Program |  | Shares 1 |  | Total $ |  | $ per share 1 |  | Shares 1 |  | Total $ |  | $ per share 1
Open market |  | 402,873 |  |  | $ | 25,009 |  |  | $ | 62.08 |  |  | 53,218 |  |  | $ | 2,030 |  |  | $ | 38.14 |
401(k) |  | — |  |  | — |  |  | — |  |  | 155,904 |  |  | 5,913 |  |  | 37.93 |
Employees |  | 20,218 |  |  | 1,202 |  |  | 59.45 |  |  | 24,889 |  |  | 978 |  |  | 39.29 |
Total |  | 423,091 |  |  | $ | 26,211 |  |  | $ | 61.95 |  |  | 234,011 |  |  | $ | 8,921 |  |  | $ | 38.12 |
1 Reflects three-for-two stock split effective August 16, 2023.
Our repurchase activity since Company inception, including our current authorized stock repurchase programs, are as follows:
|  | Inception to |  | September 30, 2023
|  | (in thousands, except share and per share data)
Program |  | Shares 1 |  | Total $ |  | $ per share 1
Open market |  | 6,893,924 |  |  | $ | 106,625 |  |  | $ | 15.47 |
401(k) |  | 12,462,552 |  |  | 171,789 |  |  | 13.78 |
Directors and employees |  | 3,087,651 |  |  | 24,562 |  |  | 7.95 |
Total |  | 22,444,127 |  |  | $ | 302,976 |  |  | $ | 13.50 |
1 Reflects three-for-two stock split effective August 16, 2023.
Schedule of Dividends Payable | Our recent cash dividends are as follows:
Declaration Date 1 | Record Date | Payment Date | Dividend per Share 2 | Annualized Dividend per Share 2
May 18, 2022 | June 3, 2022 | July 1, 2022 | $0.13 | $0.26
November 8, 2022 | November 28, 2022 | December 16, 2022 | $0.16 | $0.32
March 1, 2023 | March 13, 2023 | March 31, 2023 | $0.08 | $0.32
May 18, 2023 | June 9, 2023 | June 30, 2023 | $0.08 | $0.32
August 18, 2023 | September 8, 2023 | September 29, 2023 | $0.08 | $0.32
1 Effective with the cash dividend declared on March 1, 2023 (paid on March 31, 2023), the Company moved from semi-annual cash dividends to quarterly cash dividends.
2 Reflects three-for-two stock split effective August 16, 2023.
Earnings Per Share | 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:
| Three Months Ended |  | Nine Months Ended
| September 30, 2023 |  | September 30, 2022 |  | September 30, 2023 |  | September 30, 2022
Numerator: | (in thousands, except share and per share data)
Net income | $ | 48,078 |  |  | $ | 27,473 |  |  | $ | 130,574 |  |  | $ | 61,478 |
Denominator: |  |  |  |  |  |  |
Basic weighted average shares 3 | 81,418,800 |  |  | 79,777,987 |  |  | 81,140,473 |  |  | 79,543,925 |
Effect of dilutive shares related to stock based compensation 1,3 | 1,974,254 |  |  | 1,160,087 |  |  | 1,993,664 |  |  | 1,135,815 |
Effect of dilutive shares related to contingent consideration 2 ,3 | — |  |  | — |  |  | 141,071 |  |  | 203,058 |
Diluted weighted average shares 3 | 83,393,054 |  |  | 80,938,074 |  |  | 83,275,208 |  |  | 80,882,798 |
Earnings per share: |  |  |  |  |  |  |
Basic 3 | $ | 0.59 |  |  | $ | 0.34 |  |  | $ | 1.61 |  |  | $ | 0.77 |
Dilutive 3 | $ | 0.58 |  |  | $ | 0.34 |  |  | $ | 1.57 |  |  | $ | 0.76 |
Anti-dilutive shares: |  |  |  |  |  |  |
Shares 3 | 360,408 |  |  | 1,146,759 |  |  | 296,072 |  |  | 1,040,848 |
1 Dilutive shares related to stock options, restricted stock, PSUs and Key Employee Awards (Note 12)
2 Dilutive shares related to contingent shares issued to the former owners of BASX (Note 15)
3 Reflects three-for-two stock split effective August 16, 2023.

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