| 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 September 30, |
|
Nine Months Ended September 30, |
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Net income (in thousands) - basic and diluted |
|
$ |
95,435 |
|
$ |
69,996 |
|
$ |
245,658 |
|
$ |
176,266 |
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|
|
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|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - basic |
|
|
32,763,311 |
|
|
32,847,652 |
|
|
32,818,145 |
|
|
32,960,969 |
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|
|
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Dilutive effect of common stock equivalents: |
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|
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|
|
|
|
|
|
|
|
RSAs with service-based conditions |
|
|
15,058 |
|
|
42,317 |
|
|
22,044 |
|
|
53,719 |
RSAs with market-based conditions |
|
|
115,105 |
|
|
159,985 |
|
|
126,769 |
|
|
145,835 |
RSAs with performance-based conditions |
|
|
73,597 |
|
|
49,065 |
|
|
60,595 |
|
|
38,719 |
Stock options |
|
|
121,609 |
|
|
111,526 |
|
|
128,442 |
|
|
138,017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - diluted |
|
|
33,088,680 |
|
|
33,210,545 |
|
|
33,155,995 |
|
|
33,337,259 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net income per common share |
|
$ |
2.91 |
|
$ |
2.13 |
|
$ |
7.49 |
|
$ |
5.35 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net income per common share |
|
$ |
2.88 |
|
$ |
2.11 |
|
$ |
7.41 |
|
$ |
5.29 |
|
| 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 September 30, |
|
Nine Months Ended September 30, |
|
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
|
Anti-dilutive common stock equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
RSAs with service-based conditions |
|
|
176 |
|
|
— |
|
|
1,607 |
|
|
4,184 |
|
RSAs with market-based conditions |
|
|
11,065 |
|
|
— |
|
|
9,235 |
|
|
2,780 |
|
RSAs with performance-based conditions |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Stock options |
|
|
24,066 |
|
|
26,556 |
|
|
19,966 |
|
|
39,998 |
|
Total anti-dilutive common stock equivalents |
|
|
35,307 |
|
|
26,556 |
|
|
30,808 |
|
|
46,962 |
|
|