Income (Loss) per Share

9 Months Ended

Sep. 30, 2023

The following table sets forth the computation of basic and diluted income (loss) per share (in thousands, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Net income	$	171,415	$	267,396	$	439,318	$	279,470


Plus: Net income effect of convertible securities	—		—		—		—
Numerator for diluted income per common share	$	171,415	$	267,396	$	439,318	$	279,470

Basic weighted-average common stock shares outstanding	60,223		59,535		60,241		59,481
Plus: dilutive effects of common stock equivalents	1,181		296		903		229
Diluted weighted-average common stock shares outstanding	61,404		59,831		61,144		59,710

Basic income per common share	$	2.85	$	4.49	$	7.29	$	4.70
Diluted income per common share	$	2.79	$	4.47	$	7.18	$	4.68

Diluted income (loss) per common share excludes the following equity instruments because their effect would be anti-dilutive:
Shares of unvested restricted stock	1		49		170		309
Shares of stock options	—		2,135		36		2,314