v3.23.3
Earnings per Share
9 Months Ended
Sep. 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 EndedNine Months Ended
September 30, 2023September 30, 2022September 30, 2023September 30, 2022
Numerator:
Net income (in thousands)$22,812 $66,269 $93,587 $131,303 
Denominator:
Weighted-average Class A shares outstanding - basic 133,092,888 136,436,428 133,232,204 137,636,441 
Dilutive effect of RSUs721,130 646,474 618,003 566,463 
Dilutive effect of stock options and ESPP shares545,358 521,354 525,039 499,268 
Weighted-average shares outstanding - diluted134,359,376 137,604,256 134,375,246 138,702,172 
Net income per Class A share - basic$0.17 $0.49 $0.70 $0.95 
Net income per Class A share - diluted$0.17 $0.48 $0.70 $0.95