Net Income Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of Net Income Per Share, Basic and Diluted

The calculation of basic and diluted net income per share is as follows.

Net income per share
	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands, except per-share amounts)	2023		2022		2023		2022
Net income—basic and diluted	$	146,087	$	201,193	$	303,844	$	382,324
Average common shares outstanding—basic	159,010		173,705		159,250		175,491
Dilutive effect of share-based compensation arrangements (1)	1,734		1,714		1,879		1,858
Adjusted average common shares outstanding—diluted	160,744		175,419		161,129		177,349
Net income per share
Basic	$	0.92	$	1.16	$	1.91	$	2.18
Diluted	$	0.91	$	1.15	$	1.89	$	2.16

Schedule of Antidilutive Securities

The following number of shares of our common stock equivalents issued under our share-based compensation arrangements are not included in the calculation of diluted net income per share because their effect would be anti-dilutive.

	Three Months Ended June 30,		Six Months Ended June 30,
(In thousands)	2023	2022	2023	2022
Shares of common stock equivalents	112	189	86	—