Net Income Per Common Share

9 Months Ended

Sep. 30, 2022

Note 8 - Net Income Per Common Share

The following table displays a reconciliation of the information used in calculating basic and diluted net income per common share for the three and nine months ended September 30, 2022 and 2021. Diluted net income per common share incorporates the potential impact of contingently issuable shares, including awards which require future service as a condition of delivery of the underlying common stock.


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share data)	2022		2021		2022		2021
Basic Net Income Per Common Share:
Net income available to common shareholders	$	194,753	$	178,482	$	527,260	$	535,193
Weighted average common shares outstanding	145,386		146,308		145,329		147,622
Net income per common share, basic	$	1.34	$	1.22	$	3.63	$	3.63
Diluted Net Income Per Common Share:
Net income available to common shareholders	$	194,753	$	178,482	$	527,260	$	535,193
Weighted average common shares outstanding	145,386		146,308		145,329		147,622
Effect of dilutive outstanding equity-based awards and earnout payments	1,032		1,393		1,136		1,447
Weighted average diluted common shares	146,418		147,701		146,465		149,069
Net income per common share, diluted	$	1.33	$	1.21	$	3.60	$	3.59

For the three months ended September 30, 2022 and 2021, there were 21 thousand and 32 thousand, respectively, potentially dilutive shares related to stock options to purchase shares of common stock that were outstanding. For both the nine months ended September 30, 2022 and 2021, there were 21 thousand potentially dilutive shares related to stock options to purchase shares of common stock that were outstanding. These potentially dilutive shares were not included in the computation of diluted net income per common share because the effect would be anti-dilutive.