Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of shares of common stock, par value $0.0005 per share, (the “Common Stock”) outstanding during the period. Diluted EPS reflects the potential dilution of securities that could share in earnings. Potential shares of common stock are excluded from the computation of diluted earnings per share when their effect would be anti-dilutive.

The table below sets forth the calculation of basic and diluted income per share for the periods indicated (in thousands, except per share data).


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2026		2025		2026		2025
Numerator:
Net income used for calculating basic and diluted income per share	$	214,419	$	35,357	$	712,261	$	487,079
Denominator:
Weighted average common shares used in the calculation of basic income per share	63,751		74,884		66,683		76,466
Dilutive effect of outstanding awards associated with stock-based compensation plans(1)	197		103		158		292
Shares used in the calculation of diluted income per share	63,948		74,987		66,841		76,758
Basic income per share	$	3.36	$	0.47	$	10.68	$	6.37
Diluted income per share	$	3.35	$	0.47	$	10.66	$	6.35

(1)Certain outstanding awards associated with stock-based compensation plans were not included in the computation of diluted income per share because the effect would have been anti-dilutive. These anti-dilutive outstanding awards associated with stock-based compensation plans was 0.9 million and 0.7 million for the three months ended September 30,

2026 and 2025, respectively, and 0.9 million and 0.3 million for the nine months ended September 30, 2026 and 2025, respectively.