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Earnings Per Share (Tables) | 6 Months Ended
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Jun. 30, 2023
Earnings Per Share [Abstract] |
Schedule of Computation of Basic and Diluted Earnings Per Common Share | The computation of basic and diluted earnings per share of common stock is as follows:
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
(in thousands, except per share amounts) | 2023 |  | 2022 |  | 2023 |  | 2022
Numerator: |  |  |  |  |  |  |
Net income | $ | 84,710 |  |  | $ | 106,168 |  |  | $ | 137,530 |  |  | $ | 173,559 |
Income allocated to participating securities | (437) |  |  | (622) |  |  | (750) |  |  | (919) |
Net income available to common shareholders | $ | 84,273 |  |  | $ | 105,546 |  |  | $ | 136,780 |  |  | $ | 172,640 |
Denominator: |  |  |  |  |  |  |
Weighted average shares of common stock outstanding – basic | 50,626 |  |  | 55,446 |  |  | 50,946 |  |  | 55,429 |
Basic earnings per share | $ | 1.66 |  |  | $ | 1.90 |  |  | $ | 2.68 |  |  | $ | 3.11 |
Numerator: |  |  |  |  |  |  |
Net income | $ | 84,710 |  |  | $ | 106,168 |  |  | $ | 137,530 |  |  | $ | 173,559 |
Income allocated to participating securities | (437) |  |  | (622) |  |  | (750) |  |  | (919) |
Net income available to common shareholders | $ | 84,273 |  |  | $ | 105,546 |  |  | $ | 136,780 |  |  | $ | 172,640 |
Denominator: |  |  |  |  |  |  |
Weighted average shares of common stock outstanding – basic | 50,626 |  |  | 55,446 |  |  | 50,946 |  |  | 55,429 |
Dilutive effect of stock options and PVRSUs | 365 |  |  | 524 |  |  | 405 |  |  | 583 |
Weighted average shares of common stock outstanding – diluted | 50,991 |  |  | 55,970 |  |  | 51,351 |  |  | 56,012 |
Diluted earnings per share | $ | 1.65 |  |  | $ | 1.89 |  |  | $ | 2.66 |  |  | $ | 3.08 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following securities have been excluded from the calculation of diluted weighted average shares of common stock outstanding as the inclusion of these securities would have an anti-dilutive effect:
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
Stock options | 235 |  |  | 155 |  |  | 235 |  |  | 155 |
PVRSUs | — |  |  | 76 |  |  | — |  |  | 76 |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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