Basic net income per share is computed using net income divided by the weighted average number of shares of common stock outstanding (“Weighted Shares”) for the period presented.

Diluted net income per share is computed using net income divided by Weighted Shares and the treasury stock method effect of common equivalent shares ("CESs") outstanding for each period presented.

In the following table, we present a reconciliation of earnings per share and the shares used in the computation of earnings per share for the three and nine months ended September 30, 2026 and 2025 (in thousands, except per share data):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
	(in thousands, except per share data)						(in thousands, except per share data)

Net income	$	61,344		$	58,633		$	160,991		$	167,995
Earnings per share:
Basic	$	1.05		$	0.97		$	2.73		$	2.77
Effect of CESs		(0.01	)		(0.01	)		(0.01	)		(0.02	)
Diluted	$	1.04		$	0.96		$	2.72		$	2.75

Weighted average number of shares:
Basic		58,207			60,381			58,880			60,620
Effect of CESs		525			573			370			563
Diluted		58,732			60,954			59,250			61,183

The number of anti-dilutive CESs during the three and nine months ended September 30, 2026 and 2025 was immaterial.