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Earnings Per Share | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | 2. Earnings Per Share Basic and diluted earnings per share have been calculated using the weighted average number of common shares outstanding for the period. Diluted earnings per share was computed using the treasury stock method for stock-based compensation. The diluted earnings per share calculations exclude the effect of stock options, deferred stock units and restricted stock units when the computation is anti-dilutive. For the three- and six-month periods ended June 30, 2024, the weighted average number of shares excluded from the computation was 2.1 million and 2.5 million, respectively. For the three- and six-month periods ended June 30, 2023, the weighted average shares excluded from the computation was 1.8 million and 1.2 million, respectively. The following table sets forth the computation of basic and diluted earnings per share for the three- and six-month periods ended June 30, 2024 and 2023 (in thousands, except per share amounts):
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
Basic |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Net income |  | $ | 839 |  |  | $ | 89,849 |  |  | $ | 31,329 |  |  | $ | 110,298 |
Weighted average shares outstanding |  |  | 128,295 |  |  |  | 129,814 |  |  |  | 128,792 |  |  |  | 129,467 |
Earnings per share - basic |  |  | 0.01 |  |  |  | 0.69 |  |  |  | 0.24 |  |  |  | 0.85 |
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
Diluted |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Net income |  | $ | 839 |  |  | $ | 89,849 |  |  | $ | 31,329 |  |  | $ | 110,298 |
Average shares |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  | 128,295 |  |  |  | 129,814 |  |  |  | 128,792 |  |  |  | 129,467 |
Effect of dilutive securities - stock-based compensation |  |  | 3,436 |  |  |  | 3,414 |  |  |  | 3,302 |  |  |  | 3,940 |
Total weighted average diluted shares outstanding |  |  | 131,731 |  |  |  | 133,228 |  |  |  | 132,094 |  |  |  | 133,407 |
Earnings per share - diluted |  | $ | 0.01 |  |  | $ | 0.67 |  |  | $ | 0.24 |  |  | $ | 0.83 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
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