v3.25.2
Net Income Per Common Share
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Net Income Per Common Share
Note 7 - Net Income Per Common Share
The following table displays a reconciliation of the information used in calculating basic and diluted net income per common share for the three and six months ended June 30, 2025 and 2024. Diluted net income per common share incorporates the potential impact of contingently issuable shares, including awards which require future service and meeting certain performance and market metrics as a condition of delivery of the underlying common stock.
Three Months Ended June 30,Six Months Ended June 30,
(in thousands, except per share data)2025202420252024
Basic Net Income (Loss) Per Common Share:
Net income (loss) available to common shareholders$206,320 $(23,741)$390,011 $91,081 
Weighted average common shares outstanding138,891 145,565 139,783 145,998 
Net income (loss) per common share, basic$1.49 $(0.16)$2.79 $0.62 
Diluted Net Income (Loss) Per Common Share:
Net income (loss) available to common shareholders$206,320 $(23,741)$390,011 $91,081 
Weighted average common shares outstanding138,891 145,565 139,783 145,998 
Effect of dilutive outstanding equity-based awards(1)
611 — 987 570 
Weighted average diluted common shares139,502 145,565 140,770 146,568 
Net income (loss) per common share, diluted$1.48 $(0.16)$2.77 $0.62 
(1)    Due to the net loss attributable to common shareholders for the three months ended June 30, 2024, there were no dilutive shares included in the diluted net loss per common calculation; as such shares would have been anti-dilutive.
For the three months ended June 30, 2025 there were no potentially dilutive shares related to stock options to purchase shares of common stock that were outstanding. Due to the net loss attributable to common shareholders for the three months ended June 30, 2024, 490 thousand of contingently issuable shares, including awards which require future service and meeting certain performance and market metrics as a condition of delivery of the underlying common stock, were excluded from the computation of diluted net loss per common share because the effect could be anti-dilutive.
For the six months ended June 30, 2025, there were no potentially dilutive shares, and for the six months ended June 30, 2024, there were 21 thousand potentially dilutive shares related to stock options to purchase shares of common stock that were outstanding. Potentially dilutive shares related to stock options are not included in the computation of diluted net income per common share because the effect could be anti-dilutive.