| 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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|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Net income (in thousands) |
|
$ |
164,400 |
|
$ |
143,697 |
|
$ |
300,270 |
|
$ |
258,410 |
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|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - basic |
|
|
31,599,744 |
|
|
32,405,292 |
|
|
31,575,337 |
|
|
32,570,988 |
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|
|
|
|
Dilutive effect of common stock equivalents: |
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|
|
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|
|
|
|
|
|
|
RSAs with service-based conditions |
|
|
25,052 |
|
|
12,123 |
|
|
23,848 |
|
|
13,625 |
RSAs with market-based conditions |
|
|
20,039 |
|
|
52,871 |
|
|
22,450 |
|
|
76,515 |
RSAs with performance-based conditions |
|
|
1,974 |
|
|
39,677 |
|
|
15,503 |
|
|
51,851 |
Stock options |
|
|
84,998 |
|
|
104,486 |
|
|
85,522 |
|
|
114,570 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - diluted |
|
|
31,731,807 |
|
|
32,614,449 |
|
|
31,722,660 |
|
|
32,827,549 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net income per common share |
|
$ |
5.20 |
|
$ |
4.43 |
|
$ |
9.51 |
|
$ |
7.93 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net income per common share |
|
$ |
5.18 |
|
$ |
4.41 |
|
$ |
9.47 |
|
$ |
7.87 |
|
| 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, |
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Anti-dilutive common stock equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
RSAs with service-based conditions |
|
|
- |
|
|
18,880 |
|
|
5,582 |
|
|
14,562 |
RSAs with market-based conditions |
|
|
- |
|
|
82 |
|
|
4,467 |
|
|
232 |
RSAs with performance-based conditions |
|
|
- |
|
|
- |
|
|
- |
|
|
3,954 |
Stock options |
|
|
14,801 |
|
|
22,875 |
|
|
18,541 |
|
|
19,731 |
Total anti-dilutive common stock equivalents |
|
|
14,801 |
|
|
41,837 |
|
|
28,590 |
|
|
38,479 |
|