Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 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				Six Months Ended
	June 30,				June 30,
(in thousands, except per share amounts)	2023		2022		2023		2022
Numerator:
Net income	$	84,710	$	106,168	$	137,530	$	173,559
Income allocated to participating securities	(437)		(622)		(750)		(919)
Net income available to common shareholders	$	84,273	$	105,546	$	136,780	$	172,640
Denominator:
Weighted average shares of common stock outstanding – basic	50,626		55,446		50,946		55,429
Basic earnings per share	$	1.66	$	1.90	$	2.68	$	3.11
Numerator:
Net income	$	84,710	$	106,168	$	137,530	$	173,559
Income allocated to participating securities	(437)		(622)		(750)		(919)
Net income available to common shareholders	$	84,273	$	105,546	$	136,780	$	172,640
Denominator:
Weighted average shares of common stock outstanding – basic	50,626		55,446		50,946		55,429
Dilutive effect of stock options and PVRSUs	365		524		405		583
Weighted average shares of common stock outstanding – diluted	50,991		55,970		51,351		56,012
Diluted earnings per share	$	1.65	$	1.89	$	2.66	$	3.08

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		Six Months Ended
	June 30,		June 30,
(in thousands)	2023	2022	2023	2022
Stock options	235	155	235	155
PVRSUs	—	76	—	76