NET INCOME PER COMMON SHARE

9 Months Ended

Sep. 30, 2023

Basic earnings per common share is calculated based on the weighted average number of common shares outstanding during the period, including vested shares deferred under our non-qualified deferred compensation plan. Diluted earnings per common share is determined based on the weighted average number of common shares outstanding during the period combined with the incremental average common shares that would have been outstanding assuming the conversion of all potentially dilutive common shares into common shares as of the earliest date possible. The calculation of basic and diluted net income attributable to common stockholders per common share is determined using net income attributable to common stockholders as the numerator and the number of shares included in the denominator as shown below (in thousands, except per share amounts).


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Basic net income attributable to common stockholders per share:
Net income attributable to common stockholders	$	55,329	$	36,170	$	180,870	$	70,796
Weighted average common shares outstanding	46,906		48,515		47,373		48,849
Basic net income attributable to common stockholders per share	$	1.18	$	0.75	$	3.82	$	1.45

Diluted net income attributable to common stockholders per share:
Net income attributable to common stockholders	$	55,329	$	36,170	$	180,870	$	70,796

Weighted average common shares outstanding	46,906		48,515		47,373		48,849
Dilutive stock options and restricted stock	849		887		975		802
Diluted weighted average common shares outstanding	47,755		49,402		48,348		49,651
Diluted net income attributable to common stockholders per share	$	1.16	$	0.73	$	3.74	$	1.43