Earnings per Share (EPS) and Common Stock

3 Months Ended

Dec. 31, 2021

Earnings Per Share And Common Stock [Abstract]

Earnings per Share (EPS) and Common Stock

5. Earnings per Share (EPS) and Common Stock

EPS

The following table presents the calculation for both basic and diluted EPS:

(in thousands, except per share data)	Three months ended
	December 31, 2021		December 31, 2020
Net income	$	46,089	$	23,515
Weighted-average shares outstanding—Basic		117,347		116,401
Dilutive effect of restricted stock units		1,251		1,204
Weighted-average shares outstanding—Diluted		118,598		117,605
Earnings per share—Basic	$	0.39	$	0.20
Earnings per share—Diluted	$	0.39	$	0.20

There were no anti-dilutive shares for the three months ended December 31, 2021. There were 0.1 million anti-dilutive shares for the three months ended December 31, 2020.

Common Stock Repurchases

Our Articles of Organization authorize us to issue up to 500 million shares of our common stock. Our Board of Directors has authorized us to repurchase up to $1 billion of our common stock in the period October 1, 2020 through September 30, 2023. In the three months ended December 31, 2021, we repurchased 1,003 thousand shares for $119.7 million. We additionally entered into trades to purchase an incremental 43 thousand shares for $5.2 million, which will be settled in January 2022 and is included in accrued expenses and other current liabilities as of December 31, 2021. We did not repurchase any shares in the first quarter of 2021. All shares of our common stock repurchased are automatically restored to the status of authorized and unissued.