v3.23.2
Earnings per Share
6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Earnings per Share Earnings per Share Basic earnings per share is calculated by dividing net income for the period by the weighted average number of shares of Class A common stock outstanding for the period excluding non-vested share-based awards. In computing diluted earnings per share, basic earnings per share is adjusted for the assumed issuance of all applicable potentially dilutive share-based awards, including restricted stock unit (“RSUs”) awards, stock option awards and shares purchased under the Employee Stock Purchase Plan (“ESPP”).
Below are basic and diluted net income per share:
Three Months EndedSix Months Ended
June 30, 2023June 30, 2022June 30, 2023June 30, 2022
Numerator:
Net income (in thousands)$32,486 $30,476 $70,775 $65,034 
Denominator:
Weighted-average Class A shares outstanding - basic 133,076,763 137,909,156 133,298,117 138,255,803 
Dilutive effect of RSUs615,619 559,426 559,612 522,424 
Dilutive effect of stock options and ESPP shares519,389 489,660 513,305 485,076 
Weighted-average shares outstanding - diluted134,211,771 138,958,242 134,371,034 139,263,303 
Net income per Class A share - basic$0.24 $0.22 $0.53 $0.47 
Net income per Class A share - diluted$0.24 $0.22 $0.53 $0.47