| Schedule of basic and diluted income per share |
Basic and diluted net income per share were computed as follows:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
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|
2022 |
|
2021 |
|
2022 |
|
2021 |
Net income (in thousands) |
|
$ |
153,746 |
|
$ |
95,435 |
|
$ |
412,156 |
|
$ |
245,658 |
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|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - basic |
|
|
32,076,285 |
|
|
32,763,311 |
|
|
32,404,275 |
|
|
32,818,145 |
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|
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|
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|
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|
|
|
|
Dilutive effect of common stock equivalents: |
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|
|
|
|
|
|
|
|
|
|
RSAs with service-based conditions |
|
|
17,175 |
|
|
15,058 |
|
|
14,808 |
|
|
22,044 |
RSAs with market-based conditions |
|
|
44,001 |
|
|
115,105 |
|
|
65,677 |
|
|
126,769 |
RSAs with performance-based conditions |
|
|
40,995 |
|
|
73,597 |
|
|
48,232 |
|
|
60,595 |
Stock options |
|
|
101,364 |
|
|
121,609 |
|
|
110,169 |
|
|
128,442 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - diluted |
|
|
32,279,820 |
|
|
33,088,680 |
|
|
32,643,161 |
|
|
33,155,995 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net income per common share |
|
$ |
4.79 |
|
$ |
2.91 |
|
$ |
12.72 |
|
$ |
7.49 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net income per common share |
|
$ |
4.76 |
|
$ |
2.88 |
|
$ |
12.63 |
|
$ |
7.41 |
|
| 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, |
|
|
2022 |
|
2021 |
|
2022 |
|
2021 |
Anti-dilutive common stock equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
RSAs with service-based conditions |
|
|
15,222 |
|
|
176 |
|
|
14,782 |
|
|
1,607 |
RSAs with market-based conditions |
|
|
134 |
|
|
11,065 |
|
|
200 |
|
|
9,235 |
RSAs with performance-based conditions |
|
|
14,611 |
|
|
- |
|
|
7,506 |
|
|
- |
Stock options |
|
|
22,280 |
|
|
24,066 |
|
|
20,581 |
|
|
19,966 |
Total anti-dilutive common stock equivalents |
|
|
52,247 |
|
|
35,307 |
|
|
43,069 |
|
|
30,808 |
|