Earnings per share is computed as follows:


	For the Three Months Ended June 30,
	2026						2025
	Net Income		Shares		Per Share Amount		Net Income		Shares		Per Share Amount
	(In thousands, except per share amounts)
Basic earnings per share	$	63,269		46,674	$	1.36	$	80,108		54,991	$	1.46
Effect of dilutive incentive-based awards				494						420
Diluted earnings per share	$	63,269		47,168	$	1.34	$	80,108		55,411	$	1.45


	For the Six Months Ended June 30,
	2026						2025
	Net Income		Shares		Per Share Amount		Net Income		Shares		Per Share Amount
	(In thousands, except per share amounts)
Basic earnings per share	$	29,201		48,040	$	0.61	$	63,975		55,005	$	1.16
Effect of dilutive incentive-based awards				485						431
Diluted earnings per share	$	29,201		48,525	$	0.60	$	63,975		55,436	$	1.15

Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period (excluding treasury stock and unvested restricted stock awards). Unvested restricted stock awards are eligible to receive dividends, if any; however, dividend rights will be forfeited if the award does not vest. Accordingly, only vested shares of formerly restricted stock are included in the calculation of basic earnings per share. The weighted average number of repurchased shares during the period, if any, which are held as treasury stock, are excluded from shares of common stock outstanding.

Diluted earnings per share is determined using the treasury stock method based on the dilutive effect of certain unvested restricted stock awards and certain shares of common stock that are issuable upon exercise of stock options. During the three and six months ended June 30, 2026, there were approximately 780 thousand and 837 thousand anti-dilutive shares excluded from the computation of diluted earnings per share, respectively. During the three and six months ended June 30, 2025, there were approximately 686 thousand and 671 thousand anti-dilutive shares excluded from the computation of diluted earnings per share, respectively. The Company’s outstanding performance-vesting restricted awards of approximately 735 thousand and 397 thousand as of June 30, 2026 and 2025, respectively, are considered contingently issuable shares and are excluded from the calculation of diluted earnings per share until the performance measure criteria is met as of the end of the reporting period.