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Net Earnings Per Share
6 Months Ended
Jun. 30, 2025
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 our previously outstanding 0.75% Convertible Senior Notes due 2025 (the "Convertible Notes") and the warrants (the "Warrants") relating to the Call Spread Transactions (as defined in Note 4), 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,
2025202420252024
Numerator:
Net earnings$46,932 $87,444 $54,446 $154,471 
Denominator:
Weighted average shares used to compute basic EPS31,780 32,565 31,809 32,580 
Dilutive potential common shares due to dilutive RSUs, net of tax effect51 275 114 312 
Dilutive potential common shares due to the Convertible Notes— 3,322 865 3,275 
Dilutive potential common shares due to the Warrants290 2,405 614 2,334 
Weighted average shares used to compute diluted EPS32,121 38,567 33,402 38,501 
Net earnings per share:
Basic$1.48 $2.69 $1.71 $4.74 
Diluted$1.46 $2.27 $1.63 $4.01 
For the three and six months ended June 30, 2025, approximately 212,000 and 135,000, 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, 2024, approximately 4,000 and 15,000, respectively, of our RSUs were excluded from the diluted EPS calculations because their inclusion would have been anti-dilutive. These share-based awards could be dilutive in future periods.