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Computation of Net Earnings per Share
 6 Months Ended
Jun. 30, 2026
Computation of Net Earnings per Share  
Computation of Net Earnings per Share

Note 6.  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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Six months ended

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June 30,

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June 30,

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2026

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2025

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2026

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2025

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(in thousands, except per share amounts)

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Net income available to common stockholders

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$

23,291

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$

31,376

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$

32,505

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$

59,955

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

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30,805

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31,847

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30,764

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32,051

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Incremental RSUs

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329

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35

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320

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52

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

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31,134

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31,882

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31,084

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32,103

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Net income per share

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Basic

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$

0.76

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$

0.99

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$

1.06

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$

1.87

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Diluted

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$

0.75

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$

0.98

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$

1.05

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$

1.87

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Diluted weighted average shares of common stock outstanding does not include 93,931 and 509,998 common equivalent shares issuable with respect to outstanding equity awards for the three-month periods ended June 30, 2026 and 2025, respectively, and 51,588 and 411,238 common equivalent shares issuable with respect to outstanding equity awards for the six-month periods ended June 30, 2026 and 2025, respectively, as their effect would have been anti-dilutive.