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Net income per Common Share
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Net income per Common Share Net Income per Common Share
The computation of basic net income per share is based on the weighted average number of common stock outstanding for the three and nine months ended September 30, 2022 and 2021. Diluted net income per share gives effect to restricted stock awards, restricted stock units and stock options using the treasury stock method, unless the impact is anti-dilutive. Additionally, the Convertible Bond Debt is not considered a participating security and therefore not included in the computation of Basic net income per share for the three and nine months ended September 30, 2022 and 2021. The Company determined that it does not overcome the presumption of share settlement of outstanding debt and therefore the Company applied the if-converted method and included the potential shares to be issued upon conversion of Convertible Bond Debt in the calculation of Diluted net income per share for the three and nine months ended September 30, 2022 and 2021 as their effect was dilutive. Diluted net income per share for the three and nine months ended September 30, 2022 excluded 17,661 and 8,830 Restricted Stock Units (“RSUs”) related to EPS performance and TSR performance (defined below), respectively, as their effect was anti-dilutive. Additionally, diluted net income per share excluded 7,648 restricted shares for the three and nine months ended September 30, 2022 as their effect was anti-dilutive. Diluted net income per share for the three and nine months ended September 30, 2021 excluded 21,718 warrants and 28,046 restricted shares as their effect was anti-dilutive.
The following table summarizes the calculation of basic and diluted net income per share:
Three Months EndedNine Months Ended
(In thousands, except share and per share data)
September 30, 2022September 30, 2021September 30, 2022September 30, 2021
Net income$77,217 $78,341 $224,743 $97,416 
Weighted Average Shares - Basic12,993,450 12,802,401 12,985,329 12,237,288 
Dilutive effect of stock options, shares issuable under Convertible Bond Debt, restricted stock awards and restricted stock units3,208,402 3,133,973 3,233,935 3,117,193 
Weighted Average Shares - Diluted16,201,852 15,936,374 16,219,264 15,354,481 
Basic net income per share$5.94 $6.12 $17.31 $7.96 
Diluted net income per share$4.77 $4.92 $13.86 $6.34