v3.26.1
Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Computation of earnings per share and reconciliation of basic and diluted weighted average common shares outstanding

The table below presents the computation of earnings per share, including the reconciliation of basic and diluted weighted average shares outstanding (in thousands, except per share data):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30,

 

 

June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Net income

 

$

188,089

 

 

$

194,258

 

 

$

241,319

 

 

$

247,803

 

Amounts allocated to participating securities

 

 

(1,118

)

 

 

(963

)

 

 

(1,365

)

 

 

(1,220

)

Net income attributable to common stockholders

 

$

186,971

 

 

$

193,295

 

 

$

239,954

 

 

$

246,583

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

36,085

 

 

 

37,271

 

 

 

36,223

 

 

 

37,365

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options, restricted stock units and employee stock purchase plan

 

 

47

 

 

 

136

 

 

 

57

 

 

 

155

 

Diluted

 

 

36,132

 

 

 

37,407

 

 

 

36,280

 

 

 

37,520

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share attributable to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

5.18

 

 

$

5.19

 

 

$

6.62

 

 

$

6.60

 

Diluted

 

$

5.17

 

 

$

5.17

 

 

$

6.61

 

 

$

6.57

 

 

 

 

 

 

 

 

 

 

 

 

 

Anti-dilutive stock options excluded from diluted earnings per share computations (1)

 

 

246

 

 

 

190

 

 

 

246

 

 

 

190

 

 

(1)
Since these options have exercise prices that are higher than the average market prices of our common stock, including them in the calculation would have an anti-dilutive effect on earnings per share.