The calculations of basic and diluted earnings per share ("EPS") are based on net income divided by the basic weighted average number of common shares and diluted weighted average number of common shares outstanding, respectively.


	Three Months Ended March

(In thousands, except per share amounts)	2025		2024
Net income	$	42,882	$	59,507
Basic weighted average shares outstanding	55,355		55,735
Dilutive effect of stock-based awards	704		1,004
Diluted weighted average shares outstanding	56,059		56,739
Earnings per share:
Basic earnings per share	$	0.77	$	1.07
Diluted earnings per share	$	0.76	$	1.05

For the three months ended March 2025 and March 2024, an immaterial number of shares were excluded from the dilutive earnings per share calculations because the effect of their inclusion would have been anti-dilutive.

For the three months ended March 2025 and March 2024, a total of 0.5 million and 0.6 million shares, respectively, of performance-based restricted stock units ("PRSUs") were excluded from the calculations of diluted earnings per share as the units were not considered to be contingent outstanding shares.