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Net Income Attributable to IPG Photonics Corporation Per Common Share | 9 Months Ended
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Sep. 30, 2022
Earnings Per Share [Abstract] |
NET INCOME ATTRIBUTABLE TO IPG PHOTONICS CORPORATION PER COMMON SHARE | NET INCOME ATTRIBUTABLE TO IPG PHOTONICS CORPORATION PER COMMON SHARE The following table sets forth the computation of diluted net income attributable to IPG Photonics Corporation per common share following the treasury stock method:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Net income attributable to IPG Photonics Corporation common stockholders | $ | 76,264 |  |  | $ | 75,402 |  |  | $ | 202,804 |  |  | $ | 213,329 |
Basic weighted average common shares | 51,628,701 |  |  | 53,387,175 |  |  | 51,449,367 |  |  | 53,500,507 |
Dilutive effect of common stock equivalents | 108,289 |  |  | 446,577 |  |  | 176,565 |  |  | 552,836 |
Diluted weighted average common shares | 51,736,990 |  |  | 53,833,752 |  |  | 51,625,932 |  |  | 54,053,343 |
Basic net income attributable to IPG Photonics Corporation per common share | $ | 1.48 |  |  | $ | 1.41 |  |  | $ | 3.94 |  |  | $ | 3.99 |
Diluted net income attributable to IPG Photonics Corporation per common share | $ | 1.47 |  |  | $ | 1.40 |  |  | $ | 3.93 |  |  | $ | 3.95 |
The computation of diluted weighted average common shares excludes common stock equivalents including non-qualified stock options, performance stock units ("PSUs"), restricted stock units ("RSUs") and employee stock purchase plan ("ESPP") because the effect of including them would be anti-dilutive. The weighted average anti-dilutive shares outstanding for the three and nine months ended September 30, 2022 and 2021 were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Non-qualified stock options | 672,539 |  |  | 225,684 |  |  | 604,394 |  |  | 202,077 |
Restricted stock units | 373,646 |  |  | 128,402 |  |  | 340,924 |  |  | 100,066 |
Performance stock units | 91,920 |  |  | 30,142 |  |  | 78,999 |  |  | 24,732 |
Total weighed average anti-dilutive shares outstanding | 1,138,105 |  |  | 384,228 |  |  | 1,024,317 |  |  | 326,875 |
On August 2, 2022, the Company announced that its Board of Directors has authorized the purchase of up to $300,000 of IPG common stock. This authorization is in addition to the Company's stock repurchase programs authorized in May 2020 and February 2022. For the three months ended September 30, 2022, the Company repurchased 819,422 shares of common stock under the August 2022 authorization with an average price of $86.96 per share in the open market. For the nine months ended September 30, 2022, the Company repurchased 3,802,440 shares of common stock under the August 2022 authorization and May 2020 and February 2022 authorization with an average price of $100.66 per share in the open market. The impact on the reduction of weighted average shares for the three and nine months ended September 30, 2022 was 62,179 shares and 1,689,862 shares, respectively. The Company completed all of the repurchases under the May 2020 authorization and February 2022 authorization in the second quarter of 2022.

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