v3.26.3
Earnings Per Share (Tables)
 9 Months Ended
Sep. 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

 

 

Nine Months Ended

 

 

September 30,

 

 

September 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Net income

 

$

123,042

 

 

$

127,013

 

 

$

364,361

 

 

$

374,816

 

Amounts allocated to participating securities

 

 

(735

)

 

 

(626

)

 

 

(2,099

)

 

 

(1,847

)

Net income attributable to common stockholders

 

$

122,307

 

 

$

126,387

 

 

$

362,262

 

 

$

372,969

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

35,881

 

 

 

37,090

 

 

 

36,108

 

 

 

37,272

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options, restricted stock units and employee stock purchase plan

 

 

42

 

 

 

133

 

 

 

55

 

 

 

148

 

Diluted

 

 

35,923

 

 

 

37,223

 

 

 

36,163

 

 

 

37,420

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share attributable to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

3.41

 

 

$

3.41

 

 

$

10.03

 

 

$

10.01

 

Diluted

 

$

3.40

 

 

$

3.40

 

 

$

10.02

 

 

$

9.97

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

247

 

 

 

188

 

 

 

247

 

 

 

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.