Schedule of basic and diluted income per share |
Basic and diluted net income per share were computed as follows: | | | | | | | | | | | | Years Ended December 31, | | | 2021 | | 2020 | | 2019 | Net income (in thousands) - basic and diluted | | $ | 324,016 | | $ | 247,023 | | $ | 190,995 | | | | | | | | | | | Weighted average number of common shares outstanding - basic | | | 32,801,906 | | | 32,917,971 | | | 33,806,104 | | | | | | | | | | | Dilutive effect of common stock equivalents: | | | | | | | | | | RSAs with service-based conditions | | | 21,130 | | | 51,324 | | | 87,159 | RSAs with market-based conditions | | | 127,723 | | | 150,530 | | | 189,044 | RSAs with performance-based conditions | | | 65,262 | | | 41,807 | | | 69,199 | Stock options | | | 130,150 | | | 138,354 | | | 225,049 | | | | | | | | | | | Weighted average number of common shares outstanding - diluted | | | 33,146,171 | | | 33,299,986 | | | 34,376,555 | | | | | | | | | | | Basic net income per common share | | $ | 9.88 | | $ | 7.50 | | $ | 5.65 | | | | | | | | | | | Diluted net income per common share | | $ | 9.78 | | $ | 7.42 | | $ | 5.56 |
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Summary of shares excluded from the calculation of diluted income per share because their effect would have been anti-dilutive |
The following table summarizes shares excluded from the calculation of diluted net income per share because their effect would have been anti-dilutive: | | | | | | | | | | | | Years Ended December 31, | | | 2021 | | 2020 | | 2019 | Anti-dilutive common stock equivalents: | | | | | | | | | | RSAs with service-based conditions | | | 1,206 | | | 3,138 | | | 3,948 | RSAs with market-based conditions | | | 6,926 | | | 2,085 | | | 4,925 | RSAs with performance-based conditions | | | — | | | — | | | — | Stock options | | | 19,121 | | | 29,998 | | | 54,435 | Total anti-dilutive common stock equivalents | | | 27,253 | | | 35,221 | | | 63,308 |
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