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Earnings Per Share | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share Basic net income per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted net income per share assumes the conversion of all potentially dilutive securities and is calculated by dividing net income by the sum of the weighted average number of shares of common stock outstanding plus all potentially dilutive securities. Dilutive common shares consist primarily of stock options and restricted stock awards. 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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