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Earnings Per Share (Tables)
3 Months Ended
Mar. 31, 2024
Earnings Per Share, Basic [Abstract]  
Basic and Diluted Weighted Average Shares Outstanding

A reconciliation of basic and diluted weighted average shares outstanding is as follows:

 

 

 

Three Months Ended
March 31,

 

 

 

2024

 

 

2023

 

 

 

(Amounts in thousands,
except per share data)

 

Numerator:

 

 

 

 

 

 

Net income

 

$

2,094

 

 

$

28,829

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

Weighted average shares used in computing net income
     per share – basic

 

 

55,791

 

 

 

55,590

 

Effect of dilutive shares:

 

 

 

 

 

 

Options and stock units

 

 

473

 

 

 

529

 

Convertible senior notes(1)

 

 

238

 

 

 

883

 

Contingent consideration

 

 

29

 

 

 

44

 

Dilutive effect of unvested performance stock units

 

 

 

 

 

3

 

Dilutive potential common shares

 

 

740

 

 

 

1,459

 

Denominator for diluted earnings per share – adjusted weighted average
     shares used in computing net income per share – diluted

 

 

56,531

 

 

 

57,049

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

Basic

 

$

0.04

 

 

$

0.52

 

Diluted

 

$

0.04

 

 

$

0.51

 

 

 

 

 

 

 

 

 

(1)
Represents the dilutive impact for the Company's 2019 Notes. As of March 31, 2024, the if-converted value is less than the outstanding principal of the 2023 Notes and are therefore anti-dilutive. Refer to Note 8, "Convertible Senior Notes," above for more information.