Earnings per Share (EPS) and Common Stock

6 Months Ended

Mar. 31, 2022

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				Six months ended
	March 31, 2022		March 31, 2021		March 31, 2022		March 31, 2021
Net income	$	89,679	$	109,262	$	135,768	$	132,777
Weighted-average shares outstanding—Basic		117,008		116,777		117,135		116,587
Dilutive effect of restricted stock units		803		1,554		1,027		1,379
Weighted-average shares outstanding—Diluted		117,811		118,331		118,162		117,966
Earnings per share—Basic	$	0.77	$	0.94	$	1.16	$	1.14
Earnings per share—Diluted	$	0.76	$	0.92	$	1.15	$	1.13

Anti-dilutive shares for the three and six months ended March 31, 2022 and for the three and six months ended March 31, 2021 were immaterial.

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 second quarter and first six months of 2022 we repurchased 43 thousand shares for $5.3 million and 1,046 thousand shares for $125.0 million, respectively.  We did not repurchase any shares in the second quarter and first six months of 2021. All shares of our common stock repurchased are automatically restored to the status of authorized and unissued.