| Schedule of basic and diluted income per share |
Basic and diluted net income per share were computed as follows:
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|
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|
|
|
|
|
|
|
|
|
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|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Net income (in thousands) - basic and diluted |
|
$ |
90,380 |
|
$ |
55,496 |
|
$ |
150,222 |
|
$ |
106,268 |
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|
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|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - basic |
|
|
32,865,303 |
|
|
32,867,842 |
|
|
32,846,016 |
|
|
33,018,148 |
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|
|
|
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Dilutive effect of common stock equivalents: |
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|
|
|
|
|
|
|
|
|
|
RSAs with service-based conditions |
|
|
15,456 |
|
|
47,618 |
|
|
25,538 |
|
|
59,419 |
RSAs with market-based conditions |
|
|
118,102 |
|
|
146,496 |
|
|
132,600 |
|
|
138,760 |
RSAs with performance-based conditions |
|
|
59,167 |
|
|
17,314 |
|
|
54,094 |
|
|
33,546 |
Stock options |
|
|
119,407 |
|
|
123,153 |
|
|
131,859 |
|
|
151,262 |
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|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - diluted |
|
|
33,177,435 |
|
|
33,202,423 |
|
|
33,190,107 |
|
|
33,401,135 |
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|
|
|
|
|
|
|
|
|
|
|
|
Basic net income per common share |
|
$ |
2.75 |
|
$ |
1.69 |
|
$ |
4.57 |
|
$ |
3.22 |
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|
|
|
|
|
|
|
|
|
|
|
|
Diluted net income per common share |
|
$ |
2.72 |
|
$ |
1.67 |
|
$ |
4.53 |
|
$ |
3.18 |
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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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|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
|
Anti-dilutive common stock equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
RSAs with service-based conditions |
|
|
1,815 |
|
|
7,281 |
|
|
2,323 |
|
|
6,276 |
|
RSAs with market-based conditions |
|
|
11,128 |
|
|
— |
|
|
8,320 |
|
|
4,171 |
|
RSAs with performance-based conditions |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Stock options |
|
|
24,066 |
|
|
61,370 |
|
|
17,916 |
|
|
46,718 |
|
Total anti-dilutive common stock equivalents |
|
|
37,009 |
|
|
68,651 |
|
|
28,559 |
|
|
57,165 |
|
|