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Net Income Per Share
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Net Income Per Share Net Income Per Share
Basic net income per share is calculated as net income available to common shareholders divided by the weighted average number of shares outstanding.

Diluted net income per share is calculated as net income available to common shareholders divided by the weighted average number of shares outstanding plus the incremental number of shares added as a result of converting common stock equivalents, calculated using the treasury stock method. The Corporation's common stock equivalents consist of outstanding stock options, restricted stock, RSUs, and PSUs. PSUs are required to be included in weighted average diluted shares outstanding if performance measures, as defined in each PSU award agreement, are met as of the end of the period.

A reconciliation of weighted average shares outstanding used to calculate basic and diluted net income per share follows (in thousands, except per share data):
Three months ended September 30Nine months ended September 30
 2022202120222021
Weighted average shares outstanding (basic)167,353 162,506 162,979 162,577 
Impact of common stock equivalents1,428 950 1,275 1,057 
Weighted average shares outstanding (diluted)168,781 163,456 164,254 163,634 
Per share:
Basic$0.41 $0.45 $1.21 $1.27 
Diluted0.40 0.45 1.20 1.26