Net Income Per Share

9 Months Ended

Sep. 30, 2026

Basic net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the applicable period. Diluted net income per share is computed by dividing net income by the total of the weighted average number of shares of common stock outstanding during the applicable period, plus the effect of non-vested performance shares and restricted stock units. Basic and diluted net income per share are calculated as follows, based on a reconciliation of the weighted-average common shares outstanding on a basic and diluted basis:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2026		2025		2026		2025
	(In thousands, except per share amounts)
Net income	$	137,879	$	143,151	$	102,586	$	125,044
Weighted average common shares outstanding - basic	56,763		56,664		56,744		56,649
Effect of dilutive performance shares and restricted stock units	62		220		89		251
Weighted average common shares outstanding - diluted	56,825		56,884		56,833		56,900
Shares excluded from the calculation of diluted income per share	2		—		34		29
Net income per share - basic	$	2.43	$	2.53	$	1.81	$	2.21
Net income per share - diluted	$	2.43	$	2.52	$	1.81	$	2.20