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Net Income per Common Share (Tables)
 6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Summary of Calculation of Basic and Diluted EPS

The table below presents the calculation of basic and diluted EPS:

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

(in thousands, except per share amounts)

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

987,209

 

 

$

497,235

 

 

$

1,626,850

 

 

$

669,815

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding, basic

 

 

170,378

 

 

 

207,114

 

 

 

173,730

 

 

 

206,844

 

Dilutive effect of options and RSUs

 

 

1,171

 

 

 

1,204

 

 

 

1,795

 

 

 

1,626

 

Weighted average shares outstanding, diluted

 

 

171,549

 

 

 

208,318

 

 

 

175,525

 

 

 

208,470

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

5.79

 

 

$

2.40

 

 

$

9.36

 

 

$

3.24

 

Diluted

 

$

5.75

 

 

$

2.39

 

 

$

9.27

 

 

$

3.21

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Antidilutive and contingent RSUs excluded from diluted EPS

 

 

309

 

 

 

424

 

 

 

191

 

 

 

252