XML 56 R48.htm IDEA: XBRL DOCUMENT v3.24.3
NET INCOME PER COMMON SHARE (Tables)
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share

The following table is a reconciliation of net income and the shares used in calculating basic and diluted net income per common share for the three and nine months ended September 30, 2024 and 2023 (in thousands, except share and per share data):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

66,870

 

 

$

51,516

 

 

$

176,060

 

 

$

141,033

 

Adjustment for Basic EPS:

 

 

 

 

 

 

 

 

 

 

 

 

Earnings allocated to unvested shareholders

 

 

(126

)

 

 

(243

)

 

 

(452

)

 

 

(709

)

Adjusted net income

 

$

66,744

 

 

$

51,273

 

 

$

175,608

 

 

$

140,324

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding – Basic

 

 

47,542,114

 

 

 

47,570,099

 

 

 

47,549,976

 

 

 

47,555,734

 

Effect of dilutive shares:

 

 

 

 

 

 

 

 

 

 

 

 

Common stock equivalents arising from stock options and ESPP

 

 

276

 

 

 

499

 

 

 

1,179

 

 

 

1,764

 

Restricted stock awards and units and performance units

 

 

127,049

 

 

 

61,833

 

 

 

92,871

 

 

 

52,194

 

Weighted average common shares outstanding – Diluted

 

 

47,669,439

 

 

 

47,632,431

 

 

 

47,644,026

 

 

 

47,609,692

 

Net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.40

 

 

$

1.08

 

 

$

3.69

 

 

$

2.95

 

Diluted

 

$

1.40

 

 

$

1.08

 

 

$

3.69

 

 

$

2.95