| Schedule of basic and diluted income per share |
Basic and diluted net income per share were computed as follows:
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Years Ended December 31, |
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2022 |
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2021 |
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2020 |
Net income (in thousands) |
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|
$ |
555,989 |
|
$ |
324,016 |
|
$ |
247,023 |
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Weighted average number of common shares outstanding - basic |
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32,213,839 |
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32,801,906 |
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32,917,971 |
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Dilutive effect of common stock equivalents: |
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RSAs with service-based conditions |
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15,199 |
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21,130 |
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51,324 |
RSAs with market-based conditions |
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59,561 |
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|
127,723 |
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150,530 |
RSAs with performance-based conditions |
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46,601 |
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|
65,262 |
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|
41,807 |
Stock options |
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105,205 |
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130,150 |
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138,354 |
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Weighted average number of common shares outstanding - diluted |
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32,440,405 |
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33,146,171 |
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33,299,986 |
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Basic net income per common share |
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$ |
17.26 |
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$ |
9.88 |
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$ |
7.50 |
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Diluted net income per common share |
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$ |
17.14 |
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$ |
9.78 |
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$ |
7.42 |
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| Summary of shares excluded from the calculation of diluted income per share because their effect would have been anti-dilutive |
The following table summarizes shares excluded from the calculation of diluted net income per share because their effect would have been anti-dilutive:
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Years Ended December 31, |
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2022 |
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2021 |
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2020 |
Anti-dilutive common stock equivalents: |
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RSAs with service-based conditions |
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14,882 |
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1,206 |
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|
3,138 |
RSAs with market-based conditions |
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|
157 |
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6,926 |
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|
2,085 |
RSAs with performance-based conditions |
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9,251 |
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- |
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- |
Stock options |
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21,006 |
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19,121 |
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|
29,998 |
Total anti-dilutive common stock equivalents |
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45,296 |
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27,253 |
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35,221 |
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