XML 37 R15.htm IDEA: XBRL DOCUMENT v3.24.0.1
Net Income Per Common Share
 12 Months Ended
Dec. 31, 2023
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. For more information about common share activity during the period, see Note 12, Stockholders' Equity. 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:
 Year Ended December 31
 202320222021
 (thousands, except per-share data)
Net income$483,656 $857,658 $712,486 
Weighted average common shares outstanding during the period (for basic calculation)39,649 39,526 39,420 
Dilutive effect of other potential common shares252 246 226 
Weighted average common shares and potential common shares (for diluted calculation)39,901 39,772 39,646 
Net income per common share - Basic$12.20 $21.70 $18.07 
Net income per common share - Diluted$12.12 $21.56 $17.97 
    The computation of the dilutive effect of other potential common shares excludes stock awards representing an insignificant number of shares of common stock in the year ended December 31, 2023, 0.1 million shares of common stock in the year ended December 31, 2022, and no shares of common stock in the year ended December 31, 2021. Under the treasury stock method, the inclusion of these stock awards would have been antidilutive.