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Net Earnings Per Share
9 Months Ended
Sep. 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
September 30,
Nine Months Ended
September 30,
2025202420252024
Numerator:
Net earnings$50,947 $58,208 $105,393 $212,679 
Denominator:
Weighted average shares used to compute basic EPS31,369 32,216 31,663 32,459 
Dilutive potential common shares due to dilutive RSUs, net of tax effect56 300 94 308 
Dilutive potential common shares due to the Convertible Notes— 3,258 577 3,269 
Dilutive potential common shares due to the Warrants111 2,557 446 2,409 
Weighted average shares used to compute diluted EPS31,536 38,331 32,780 38,445 
Net earnings per share:
Basic$1.62 $1.81 $3.33 $6.55 
Diluted$1.62 $1.52 $3.22 $5.53 
For the three and nine months ended September 30, 2025, approximately 190,000 and 153,000, respectively, of our RSUs were excluded from the diluted EPS calculations because their inclusion would have been anti-dilutive. For the three and nine months ended September 30, 2024, approximately 500 and 10,000, 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.