XML 144 R27.htm IDEA: XBRL DOCUMENT v3.25.0.1
Net Income per Share
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Net Income per Share Net Income per Share
The computation of basic net income per share is based on the number of weighted average common shares outstanding during the period.  The computation of diluted net income per share is based on the weighted average number of shares outstanding plus the incremental shares that would be outstanding assuming issuance of restricted stock.  The number of
incremental shares is calculated by applying the treasury stock method.  Basic and diluted net income per share was calculated as follows (in thousands, except per share data):
 For the years ended December 31,
202420232022
Numerator:
Net income $250,603 $478,629 $641,298 
Denominator:
Weighted-average shares used to compute net income per share—basic52,287 51,973 51,622 
Dilutive restricted stock awards and units
58 72 93 
Weighted-average shares used to compute net income per share—diluted52,345 52,045 51,715 
Net income per share—basic$4.79 $9.21 $12.42 
Net income per share—diluted $4.79 $9.20 $12.40 
As of December 31, 2024, there were 166,547 restricted stock unit awards for which the service-based vesting conditions for these awards were not met as of the measurement date. As such, these awards were excluded from basic earnings per share. These awards had a 58,482 share impact on dilutive weighted average shares for the year ended December 31, 2024.
As of December 31, 2024, there were 333,147 shares granted under the 2017 Equity Plan to employees, for which neither the service based nor performance based vesting conditions were met as of the measurement date. As such, these shares have been excluded from basic and diluted earnings per share.