EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

The following table details the reconciliation of basic earnings per share to diluted earnings per share:


	Years Ended December 31,
	2023		2022		2021
Numerator for basic and diluted earnings per share:
Net income	$	165,919	$	164,240	$	161,458
Denominator:
Weighted-average basic common shares outstanding	42,024		41,544		40,848
Assumed conversion of dilutive securities:
Stock awards	745		855		1,382
Convertible Senior Notes	—		—		14
Denominator for diluted earnings per share - Adjusted weighted-average shares	42,769		42,399		42,244
Earnings per common share:
Basic	$	3.95	$	3.95	$	3.95
Diluted	$	3.88	$	3.87	$	3.82

Share-based awards representing the right to purchase common stock of 343,000 shares in 2023, 372,000 shares in 2022, and 117,000 shares in 2021, were not included in the computation of diluted earnings per share because their inclusion would have had an antidilutive effect.

We have used the if-converted method for calculating any potential dilutive effect of the Convertible Senior Notes due 2026 on our diluted net income per share. Under the if-converted method, the Notes are assumed to be converted at the beginning of the period and the resulting common shares are included in the denominator of the diluted earnings per share calculation for the entire period being presented and interest expense, net of tax, recorded in connection with the Convertible Senior Notes is not added back to the numerator, only in the periods in which such effect is dilutive. The approximately 1.2 million remaining resulting common shares related to the Notes are not included in the dilutive weighted-average common shares outstanding calculation for the twelve months ended December 31, 2023, as their effect would be antidilutive given none of the conversion features have been triggered. See Note 10, “Debt,” for discussion on the conversion features related to the Convertible Senior Notes.