| Schedule of Net Income Per Share, Basic and Diluted |
The calculation of basic and diluted net income per share is as follows.
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Net income per share |
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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(In thousands, except per-share amounts) |
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2026 |
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2025 |
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2026 (1) |
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2025 |
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Net income from continuing operations |
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$ |
118,228 |
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$ |
154,485 |
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$ |
247,694 |
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$ |
306,575 |
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Income (loss) from discontinued operations, net of tax |
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(2,314 |
) |
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(12,689 |
) |
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(7,687 |
) |
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(20,221 |
) |
Net income—basic and diluted |
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$ |
115,914 |
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$ |
141,796 |
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$ |
240,007 |
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$ |
286,354 |
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Average common shares outstanding—basic |
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135,355 |
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137,376 |
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136,591 |
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141,910 |
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Dilutive effect of share-based compensation arrangements (2) |
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928 |
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984 |
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959 |
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1,102 |
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Adjusted average common shares outstanding—diluted |
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136,283 |
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138,360 |
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137,550 |
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143,012 |
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Net income per share |
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Basic |
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Net income from continuing operations |
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$ |
0.87 |
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$ |
1.12 |
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$ |
1.81 |
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$ |
2.16 |
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Income (loss) from discontinued operations, net of tax |
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(0.02 |
) |
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(0.09 |
) |
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(0.06 |
) |
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(0.14 |
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Basic net income per share |
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$ |
0.85 |
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$ |
1.03 |
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$ |
1.75 |
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$ |
2.02 |
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Diluted |
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Net income from continuing operations |
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$ |
0.87 |
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$ |
1.11 |
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$ |
1.80 |
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$ |
2.14 |
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Income (loss) from discontinued operations, net of tax |
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(0.02 |
) |
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(0.09 |
) |
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(0.06 |
) |
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(0.14 |
) |
Diluted net income per share |
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$ |
0.85 |
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$ |
1.02 |
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$ |
1.74 |
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$ |
2.00 |
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(1)Includes Inigo results from the Closing Date of the acquisition through June 30, 2026. (2)The following number of shares of our common stock equivalents issued under our share-based compensation arrangements are not included in the calculation of diluted net income per share because their effect would be anti-dilutive.
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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(In thousands) |
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2026 |
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2025 |
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2026 |
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2025 |
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Shares of common stock equivalents |
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315 |
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2 |
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167 |
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1 |
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