Basic net income per share is calculated by dividing net income by the weighted average shares outstanding during the period, without consideration of common stock equivalents. Diluted net income per share is calculated by adjusting the weighted average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, determined using the treasury-stock method.

The components of basic and diluted net income per share are as follows:


	Three Months Ended March 31,
(In thousands, except per share data)	2026		2025
Numerator:
Net income	$	26,744	$	32,339
Denominator:
Weighted average shares - basic		151,847		159,544
Common stock equivalents		1,842		2,522
Weighted average shares - diluted		153,689		162,066
Net income per share - basic	$	0.18	$	0.20
Net income per share - diluted	$	0.17	$	0.20
Antidilutive shares excluded from diluted net income per share:
Restricted stock units		109		5
Non-qualified stock options		12		—
Performance share units		—		325
Total antidilutive shares excluded		121		330