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EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2021

A summary of the earnings per share calculation is as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands, except per share amounts)	2021		2020		2021		2020
Basic earnings per share:
Net income	$	42,034	$	14,820	$	123,713	$	43,898
Weighted-average common shares		60,319		59,823		60,350		59,582
Basic earnings per share	$	0.70	$	0.25	$	2.05	$	0.74
Diluted earnings per share: ⁽¹⁾
Net income	$	42,034	$	14,820	$	123,713	$	43,898
Weighted-average common shares		60,319		59,823		60,350		59,582
Effect of dilutive awards:
Employee stock plans		1,044		1,029		1,116		1,086
Diluted weighted-average common shares		61,363		60,852		61,466		60,668
Diluted earnings per share	$	0.69	$	0.24	$	2.01	$	0.72

(1)

The Company includes the shares underlying performance-based awards in the calculation of diluted earnings per share if the performance conditions have been satisfied as of the end of the reporting period and excludes such shares when the necessary conditions have not been met. The Company has excluded the shares underlying the outstanding performance-based awards in the 2021 and 2020 calculations as the shares were not contingently issuable as of the end of the reporting periods.