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Net Income Per Common Share (Notes)
9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Net Income Per Common Share Net Income Per Common Share
 
    Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Weighted average common shares outstanding for the basic net income per common share calculation includes certain vested restricted stock units (RSUs) and performance stock units (PSUs) as there are no conditions under which those shares will not be issued. Diluted net income per common share is computed by dividing net income by the combination of the weighted average number of common shares outstanding during the period and other potentially dilutive weighted average common shares. Other potentially dilutive weighted average common shares include the dilutive effect of stock options, RSUs, and PSUs for each period using the treasury stock method. Under the treasury stock method, the exercise price of a share and the amount of compensation expense, if any, for future service that has not yet been recognized are assumed to be used to repurchase shares in the current period.
    The following table sets forth the computation of basic and diluted net income per common share:
 Three Months Ended
September 30
Nine Months Ended
September 30
 2021202020212020
 (thousands, except per-share data)
Net income$91,699 $103,192 $543,411 $148,978 
Weighted average common shares outstanding during the period (for basic calculation)39,442 39,315 39,413 39,264 
Dilutive effect of other potential common shares219 211 210 132 
Weighted average common shares and potential common shares (for diluted calculation)39,661 39,526 39,623 39,396 
Net income per common share - Basic$2.32 $2.62 $13.79 $3.79 
Net income per common share - Diluted$2.31 $2.61 $13.71 $3.78 
    The computation of the dilutive effect of other potential common shares excludes stock awards representing no shares of common stock in both the three months ended September 30, 2021 and 2020, and 0.1 million and 0.2 million shares of common stock, respectively, in the nine months ended September 30, 2021 and 2020. Under the treasury stock method, the inclusion of these stock awards would have been antidilutive.