The following table presents the calculation for both basic and diluted EPS:


(in thousands, except per share data)	Three months ended				Nine months ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Net income	$	141,328	$	68,978	$	386,204	$	249,810
Weighted-average shares outstanding—Basic		119,913		119,893		120,106		119,533
Dilutive effect of restricted stock units		548		929		709		1,060
Weighted-average shares outstanding—Diluted		120,461		120,822		120,815		120,593
Earnings per share—Basic	$	1.18	$	0.58	$	3.22	$	2.09
Earnings per share—Diluted	$	1.17	$	0.57	$	3.20	$	2.07

There were 0.4 million and 0.0 million anti-dilutive shares for the three and nine months ended June 30, 2025, respectively. There were 0.2 million and 0.1 million anti-dilutive shares for the three and nine months ended June 30, 2024, respectively.

Our Articles of Organization authorize us to issue up to 500 million shares of our common stock. Our Board of Directors has authorized us to repurchase up to $2 billion of our common stock in the period October 1, 2024 through September 30, 2027. In the third quarter and first nine months of 2025, we repurchased 0.4 million shares for $75 million and 1.3 million shares for $225 million, respectively. We did not repurchase any shares in the third quarter and first nine months of 2024. All shares of our common stock repurchased are automatically restored to the status of authorized and unissued.