Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2023

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)	2023		2022
Numerator:
Net income	$	52,820	$	67,391
Income allocated to participating securities	(272)		(324)
Net income available to common shareholders	$	52,548	$	67,067
Denominator:
Weighted average shares of common stock outstanding – basic	51,269		55,412
Basic earnings per share	$	1.02	$	1.21
Numerator:
Net income	$	52,820	$	67,391
Income allocated to participating securities	(272)		(324)
Net income available to common shareholders	$	52,548	$	67,067
Denominator:
Weighted average shares of common stock outstanding – basic	51,269		55,412
Dilutive effect of stock options and PVRSUs	445		642
Weighted average shares of common stock outstanding – diluted	51,714		56,054
Diluted earnings per share	$	1.02	$	1.20

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)	2023	2022
Stock options	240	156
PVRSUs	—	76