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Earnings Per Share
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The Company’s shares of restricted stock contain rights to receive nonforfeitable dividends and thus are participating securities that require the computation of basic earnings per share using the two-class method. The shares of restricted stock are both potential shares of common stock and participating securities so the Company calculates diluted earnings per share by using the more dilutive of the treasury stock method or the two-class method. The calculation of earnings per share for the net income available to common shareholders excludes the distribution of dividends and the undistributed earnings attributable to the participating securities from the numerator. The diluted earnings per share includes stock options, PVRSUs, and RSUs in the calculation of the weighted average shares of common stock outstanding.
The computation of basic and diluted earnings per share was as follows:
Three Months EndedSix Months Ended
 June 30,June 30,
(in thousands, except per share amounts)2025202420252024
Numerator:
Net income$81,734 $87,136 $126,268 $118,145 
Income allocated to participating securities(392)(437)(615)(597)
Net income available to common shareholders$81,342 $86,699 $125,653 $117,548 
Denominator:
Weighted average shares of common stock outstanding – basic46,141 47,741 46,316 48,522 
Basic earnings per share$1.76 $1.82 $2.71 $2.42 
Numerator:
Net income$81,734 $87,136 $126,268 $118,145 
Income allocated to participating securities(392)(437)(615)(597)
Net income available to common shareholders$81,342 $86,699 $125,653 $117,548 
Denominator:
Weighted average shares of common stock outstanding – basic46,141 47,741 46,316 48,522 
Dilutive effect of stock options, PVRSUs, and RSUs447 297 538 317 
Weighted average shares of common stock outstanding – diluted46,588 48,038 46,854 48,839 
Diluted earnings per share$1.75 $1.80 $2.68 $2.41 
The following securities have been excluded from the calculation of the diluted weighted average shares of common stock outstanding because the inclusion of these securities would have an anti-dilutive effect:
 Three Months EndedSix Months Ended
June 30,June 30,
(in thousands)2025202420252024
Stock options128 248 128 231 
PVRSUs— 49 — 49