Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings Per Common Share

The computation of basic and diluted earnings per share of common stock is as follows:

	Three Months Ended
	March 31,
(in thousands, except per share amounts)	2022		2021
Numerator:
Net income	$	67,391	$	22,337
Income allocated to participating securities	(324)		(110)
Net income available to common shareholders	$	67,067	$	22,227
Denominator:
Weighted average shares of common stock outstanding – basic	55,412		55,263
Basic earnings per share	$	1.21	$	0.40
Numerator:
Net income	$	67,391	$	22,337
Income allocated to participating securities	(324)		(110)
Net income available to common shareholders	$	67,067	$	22,227
Denominator:
Weighted average shares of common stock outstanding – basic	55,412		55,263
Dilutive effect of stock options and PVRSUs	642		398
Weighted average shares of common stock outstanding – diluted	56,054		55,661
Diluted earnings per share	$	1.20	$	0.40

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following securities have been excluded from the calculation of diluted weighted average shares of common stock outstanding as the inclusion of these securities would have an anti-dilutive effect:

	Three Months Ended
	March 31,
(in thousands)	2022	2021
Stock options	156	—
PVRSUs	76	83