NET INCOME PER COMMON SHARE

3 Months Ended

Mar. 31, 2025

Basic earnings per common share is calculated based on the weighted average number of common shares outstanding during the period, including vested shares deferred under our non-qualified deferred compensation plan. Diluted earnings per common share is determined based on the weighted average number of common shares outstanding during the period combined with the incremental average common shares that would have been outstanding assuming the conversion of all potentially dilutive common shares into common shares as of the earliest date possible. The calculation of basic and diluted net income attributable to common stockholders per common share is determined using net income attributable to common stockholders as the numerator and the number of shares included in the denominator as shown below (in thousands, except per share amounts). The number of antidilutive securities that could potentially dilute basic earnings per share (“EPS”) in the future but were not included in the computation of diluted EPS because to do so would be antidilutive was 251,431 shares as of March 31, 2025. There were 118,506 antidilutive securities as of March 31, 2024.


	Three Months Ended March 31,
	2025		2024
Basic net income attributable to common stockholders per share:
Net income attributable to common stockholders	$	230,941	$	18,167
Weighted average common shares outstanding	42,716		45,383
Basic net income attributable to common stockholders per share	$	5.41	$	0.40

Diluted net income attributable to common stockholders per share:
Net income attributable to common stockholders	$	230,941	$	18,167

Weighted average common shares outstanding	42,716		45,383
Dilutive stock options and restricted stock	371		871
Diluted weighted average common shares outstanding	43,087		46,254
Diluted net income attributable to common stockholders per share	$	5.36	$	0.39