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Earnings Per Share | 3 Months Ended
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Mar. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | 15. Earnings Per Share We use the treasury stock method to calculate earnings per share as our currently issued non-vested RSUs and PSUs do not have participating rights. The following table sets forth the computation of basic and diluted EPS for the three months ended March 31, 2024 and 2023 (in thousands, except share and per share information):
|  | Three Months Ended March 31,
|  | 2024 |  | 2023
Numerator |  |  |  |  |  |
Net income |  | $ | 64,332 |  | $ | 33,311
Denominator |  |  |  |  |  |
Weighted average common shares outstanding - basic |  |  | 31,808,959 |  |  | 31,914,414
Dilutive effect of stock-based compensation awards |  |  | 429,849 |  |  | 202,668
Weighted average common shares outstanding - diluted |  |  | 32,238,808 |  |  | 32,117,082
Earnings per share: |  |  |  |  |  |
Basic |  | $ | 2.02 |  | $ | 1.04
Diluted |  | $ | 2.00 |  | $ | 1.04
Stock-based awards are excluded from the calculation of diluted EPS in the event they are subject to unsatisfied performance conditions or are antidilutive. We excluded 0.5 million and 0.5 million common stock unit equivalents from diluted earnings per share during the three months ended March 31, 2024 and 2023, respectively, related to the PSUs for which performance conditions remained unsatisfied.

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