v3.25.1
Net Income Per Share
3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Net Income Per Share Net Income Per Share
Basic net income per common share is computed by dividing the net income relevant to the common stockholders by the weighted average number of common shares outstanding during the period. Diluted net income per common share uses the same net income divided by the sum of the weighted average number of shares of common stock outstanding during the period, plus dilutive effects of options, performance share units ("PSUs") and restricted stock units ("RSUs") outstanding during the period calculated using the treasury method and the potential dilutive effects of preferred stocks (if any) calculated using the if-converted method.
The table below shows the calculations for the three months ended March 31, 2025 and 2024 (in thousands, except for per share data):
Three Months Ended March 31,
20252024
Numerator (both basic and diluted)
Net income relevant to common stockholders$9,602 $19,930 
Denominator
Denominator for basic income per share103,319 108,540 
Dilutive effect of stock options— — 
Dilutive effect of performance share units564 — 
Dilutive effect of restricted stock units1,235 449 
Denominator for diluted income per share105,118 108,989 
Basic income per common share$0.09 $0.18 
Diluted income per common share$0.09 $0.18 
As shown in the table below, the following stock options, RSUs and PSUs have not been included in the calculation of diluted income per common share for the three months ended March 31, 2025 and 2024 because they will be anti-dilutive to the calculation of diluted net income per common share:
(in thousands)Three Months Ended March 31,
20252024
Stock options171 179 
Restricted stock units— 628 
Performance share units167 669 
Total338 1,476