The following table reconciles the numerator and denominator in computing the Company’s basic and diluted per-share computations for net income available to common stockholders:


	Year Ended December 31,
	2025		2024		2023
	(in thousands, except share and per share amounts)
Numerator:
Net income available to common stockholders	$	276,121	$	210,969	$	212,241

Allocation to participating securities (1)	(925)		(1,967)		(1,233)
Numerator for basic and diluted net income available to common stockholders	$	275,196	$	209,002	$	211,008
Denominator:
Basic weighted average vested shares outstanding	118,278,990		117,649,111		117,160,173
Effect of dilutive securities	553,045		507,876		346,082
Diluted weighted average vested shares and common stock equivalents outstanding	118,832,035		118,156,987		117,506,255
Basic earnings per share:
Net income available to common stockholders per share	$	2.33	$	1.78	$	1.80
Diluted earnings per share:
Net income available to common stockholders per share	$	2.32	$	1.77	$	1.80

Share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are considered participating securities. The impact of potentially dilutive common shares, including RSUs, are considered in our diluted earnings per share calculation for the years ended December 31, 2025, 2024, and 2023. Certain performance-based RSUs are not included in dilutive securities as of December 31, 2025, 2024, and 2023 as not all performance metrics had been met by the end of the applicable reporting periods. Additionally, certain unvested time-based RSUs are not included in dilutive securities for the year ended December 31, 2023 as they were anti-dilutive.