EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2022

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,
	2022		2021		2022		2021
Numerator for basic and diluted earnings per share:
Net income	$	135,799	$	65,443	$	329,270	$	154,254

Denominator:
Weighted-average basic shares outstanding	54,111		54,411		54,278		54,553
Dilutive effect of outstanding stock awards	270		296		264		309
Dilutive shares outstanding	54,381		54,707		54,542		54,862

Basic earnings per share:	$	2.51	$	1.20	$	6.07	$	2.83

Diluted earnings per share:	$	2.50	$	1.20	$	6.04	$	2.81

For the three months ended September 30, 2022 and 2021, all then outstanding performance awards and restricted stock awards were included in the calculation of diluted earnings per share except for 81,341 and 67,019, respectively, of performance stock awards for which the performance criteria were not attained at the reporting dates and 10,043 and 38,250, respectively, of restricted stock awards and performance awards which were excluded as their inclusion would have an antidilutive effect.

For the nine months ended September 30, 2022 and 2021, all then outstanding performance awards and restricted stock awards were included in the calculation of diluted earnings per share except for 81,341 and 67,019, respectively, of performance stock awards for which the performance criteria were not attained at the reporting dates and 13,500 and 39,750, respectively, of restricted stock awards and performance awards which were excluded as their inclusion would have an antidilutive effect.