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Earnings per Common Share | 3 Months Ended
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Mar. 31, 2024
Earnings Per Share [Abstract] |
Earnings per Common Share | Earnings per Common Share The calculation of basic and diluted earnings per share ("EPS") was as follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
|  |  |  |  | (In thousands, except per share data)
Basic earnings per Class A common share |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income |  |  |  |  | $ | 4,750 |  |  | $ | 36,012 |
Denominator: |  |  |  |  |  |  |
Weighted-average Class A shares issued and outstanding |  |  |  |  | 52,942 |  |  | 51,813 |
Basic earnings per Class A common share |  |  |  |  | $ | 0.09 |  |  | $ | 0.70 |
Diluted earnings per Class A common share |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income allocated to Class A common stockholders |  |  |  |  | $ | 4,750 |  |  | $ | 36,012 |
Denominator: |  |  |  |  |  |  |
Weighted-average Class A shares issued and outstanding |  |  |  |  | 52,942 |  |  | 51,813 |
Dilutive potential common shares: |  |  |  |  |  |  |
Service-based restricted stock units |  |  |  |  | 259 |  |  | 109 |
Performance-based restricted stock units |  |  |  |  | 4 |  |  | 68 |
Employee stock purchase plan |  |  |  |  | 65 |  |  | 31 |
Diluted weighted-average Class A shares issued and outstanding |  |  |  |  | 53,270 |  |  | 52,021 |
Diluted earnings per Class A common share |  |  |  |  | $ | 0.09 |  |  | $ | 0.69 |
For the periods presented, we excluded certain restricted stock units and stock options outstanding, which could potentially dilute basic EPS in the future, from the computation of diluted EPS as their effect was anti-dilutive. Additionally, we have excluded any performance-based restricted stock units where the performance contingency has not been met as of the end of the period, or whereby the result of including such awards was anti-dilutive. The following table shows the weighted-average number of anti-dilutive shares excluded from the diluted EPS calculation:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
|  |  |  |  | (In thousands)
Class A common stock |  |  |  |  |  |  |
Options to purchase Class A common stock |  |  |  |  | 1,009 |  |  | 1,163 |
Service-based restricted stock units |  |  |  |  | 1,278 |  |  | 1,248 |
Performance-based restricted stock units |  |  |  |  | 141 |  |  | 359 |
Total |  |  |  |  | 2,428 |  |  | 2,770 |

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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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