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EARNINGS PER SHARE | 3 Months Ended
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Mar. 31, 2023
EARNINGS PER SHARE |
EARNINGS PER SHARE | 9. EARNINGS PER SHARE: Basic earnings per share are calculated by dividing net income by the weighted-average shares of common stock outstanding during the period. Diluted earnings per share are calculated by dividing net income by the weighted-average shares of common stock and dilutive common equivalent shares outstanding during the period. Dilutive common equivalent shares included in this calculation consist of dilutive shares issuable upon the assumed exercise of outstanding common stock options, the assumed vesting of outstanding restricted stock units, the assumed issuance of awards under the stock purchase plan and contingently issuable performance-based awards, as computed using the treasury stock method. A summary of the earnings per share calculation is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended
​ | ​ | March 31,
(In thousands, except per share amounts) |  | 2023 |  | 2022
Basic earnings per share: |  | ​ |  |  | ​ |
Net income | ​ | $ | 6,875 | ​ | $ | 46,248
Weighted-average common shares | ​ |  | 57,105 | ​ |  | 59,238
Basic earnings per share | ​ | $ | 0.12 | ​ | $ | 0.78
Diluted earnings per share: (1) | ​ |  |  | ​ |  |
Net income | ​ | $ | 6,875 | ​ | $ | 46,248
Weighted-average common shares | ​ |  | 57,105 | ​ |  | 59,238
Effect of dilutive awards: | ​ |  |  | ​ |  |
Employee stock plans | ​ |  | 474 | ​ |  | 869
Diluted weighted-average common shares | ​ |  | 57,579 | ​ |  | 60,107
Diluted earnings per share | ​ | $ | 0.12 | ​ | $ | 0.77
​
(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 2023 and 2022 calculations as the shares were not contingently issuable as of the end of the reporting periods.
In the three months ended March 31, 2023 and 2022, no stock awards were determined to be anti-dilutive and therefore excluded from the computation of diluted earnings per share.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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