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Net Earnings Per Share
6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Net Earnings Per Share Net Earnings Per Share
Basic earnings per share ("EPS") is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding during each period. Diluted EPS is computed on the basis of the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding restricted stock units (“RSUs”) and certain shares underlying the Convertible Notes and the warrants relating to the Call Spread Transactions, as applicable. A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share data):
Three Months Ended
June 30,
Six Months Ended
June 30,
2024202320242023
Numerator:
Net earnings$87,444 $80,482 $154,471 $130,454 
Denominator:
Weighted average shares used to compute basic EPS32,565 33,101 32,580 33,403 
Dilutive potential common shares due to dilutive RSUs, net of tax effect275 234 312 275 
Dilutive potential common shares due to the Convertible Notes3,322 2,516 3,275 2,413 
Dilutive potential common shares due to the Warrants2,405 1,188 2,334 1,032 
Weighted average shares used to compute diluted EPS38,567 37,039 38,501 37,123 
Net earnings per share:
Basic$2.69 $2.43 $4.74 $3.91 
Diluted$2.27 $2.17 $4.01 $3.51 
For the three and six months ended June 30, 2024, 4,182 and 14,672, respectively, of our RSUs were excluded from the diluted EPS calculations because their inclusion would have been anti-dilutive. For the three and six months ended June 30, 2023, 67,000 and 76,000, respectively, of our RSUs were excluded from the diluted EPS calculations because their inclusion would have been anti-dilutive.