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Computation of Net Earnings per Share
 9 Months Ended
Sep. 30, 2025
Computation of Net Earnings per Share  
Computation of Net Earnings per Share

Note 7.  Computation of Net Earnings per Share

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Basic earnings per share is computed by dividing income available to common stockholders (the numerator) by the weighted-average number of shares of common stock outstanding (the denominator) for the period. The computation of diluted earnings per share is similar to basic earnings per share, except that the denominator is increased by the number of additional shares of common stock that would have been outstanding if the potentially dilutive shares of common stock issuable on vesting of RSUs had been issued, calculated using the treasury stock method.

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The components of net earnings per share are as follows:

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Three months ended

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Nine months ended

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September 30,

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September 30,

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2025

    

2024

    

2025

    

2024

    

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(in thousands, except per share amounts)

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Net income available to common stockholders

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$

25,986

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$

48,576

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$

85,941

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$

151,036

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Weighted average shares of common stock outstanding used in computing basic income per share

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31,287

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32,550

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31,796

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32,595

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Incremental RSUs

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163

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125

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67

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185

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Weighted average shares of common stock used in computing diluted net income per share

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31,450

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32,675

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31,863

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32,780

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Net income per share

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Basic

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$

0.83

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$

1.49

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$

2.70

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$

4.63

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Diluted

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$

0.83

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$

1.49

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$

2.70

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$

4.61

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Diluted weighted average shares of common stock outstanding does not include 187,726 and 109,266 common equivalent shares issuable with respect to outstanding equity awards for the three-month periods ended September 30, 2025 and 2024, respectively, or 268,357 and 21,477 common equivalent shares issuable with respect to outstanding equity awards for the nine-month periods ended September 30, 2025 and 2024, respectively, as their effect would have been anti-dilutive.