EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2021

The following are computations of basic and diluted earnings per share (in thousands, except per share amounts):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Numerator for basic and diluted earnings per share:
Net income	$	65,443	$	54,910	$	154,254	$	95,505

Denominator:
Basic shares outstanding	54,411		55,592		54,553		55,646
Dilutive effect of outstanding stock awards	296		146		309		186
Dilutive shares outstanding	54,707		55,738		54,862		55,832

Basic earnings per share:	$	1.20	$	0.99	$	2.83	$	1.72

Diluted earnings per share:	$	1.20	$	0.99	$	2.81	$	1.71

For the three months ended September 30, 2021 and September 30, 2020, all then outstanding performance awards and restricted stock awards were included in the calculation of diluted earnings per share except for 67,019 and 235,806, respectively, of performance stock awards for which the performance criteria were not attained at the reporting dates and 38,250 and 16,183, respectively, of restricted stock awards which were excluded as their inclusion would have an antidilutive effect.

For the nine months ended September 30, 2021 and September 30, 2020, all then outstanding performance awards and restricted stock awards were included in the calculation of diluted earnings per share except for 67,019 and 235,806, respectively, of performance stock awards for which the performance criteria were not attained at the reporting dates and 39,750 and 14,516, respectively, of restricted stock awards which were excluded as their inclusion would have an antidilutive effect.