v3.26.1
Earnings Per Share
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The Company has Class A common stock and Class B common stock outstanding. Because the only difference between the two classes of common stock are related to voting, transfer and conversion rights, the Company has not presented earnings per share under the two-class method, as earnings per share are the same for both Class A common stock and Class B common stock.
As required by the Incentive Plans, the Company made proportionate adjustments to the terms of outstanding awards in conjunction with the special cash dividend of $3.65 per share. See Note 10, "Stock-Based Compensation" in the Notes to Unaudited Condensed Consolidated Financial Statements included in this Quarterly Report for additional information.
The following table summarizes the computation of basic and diluted earnings per share for the three and six months ended June 30, 2026 and 2025:
Three months ended June 30,Six months ended June 30,
(in thousands, except share and per share data)2026202520262025
Numerator:
Net income$21,969 $20,047 $46,301 $41,195 
Denominator:
Weighted-average common shares outstanding – basic91,620,230 89,493,215 91,206,490 89,766,782 
Effect of dilutive securities875,534 3,083,590 1,588,393 3,349,391 
Weighted-average common shares outstanding – diluted92,495,764 92,576,805 92,794,883 93,116,173 
Net income per common share:
Basic$0.24 $0.22 $0.51 $0.46 
Diluted$0.24 $0.22 $0.50 $0.44 
The Company excluded 5,031,216 and 4,160,685 potential common stock equivalents from the computation of diluted EPS for the three and six months ended June 30, 2026, respectively, and 3,159,946 and 3,175,817 potential common stock equivalents from the computation of diluted EPS for the three and six months ended June 30, 2025, respectively, because the effect would have been anti-dilutive. There were 800,057 and 578,110 potential common stock equivalents outstanding as of June 30, 2026 and 2025, respectively, with market or performance conditions which were not met at the relevant date, that were excluded from the calculation of diluted EPS.