Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2026

Earnings Per Share

Summary of basic and diluted earnings per share calculations


		Quarter ended June 30,						Six months ended June 30,
		2026			2025			2026			2025

		(in thousands, except per share amounts)
Net income		$	21,726		$	136,463		$	104,048		$	212,743

Weighted average shares of common stock outstanding			51,932			51,667			52,031			51,587
Effect of dilutive securities - shares issuable under stock-based compensation plan			1,319			1,968			1,518			2,039
Weighted average diluted shares of common stock outstanding			53,251			53,635			53,549			53,626
Basic earnings per share		$	0.42		$	2.64		$	2.00		$	4.12
Diluted earnings per share		$	0.41		$	2.54		$	1.94		$	3.97

Schedule of anti-dilutive shares outstanding



		Quarter ended June 30,						Six months ended June 30,
		2026			2025			2026			2025

		(in thousands except for weighted average exercise price)
Time-based RSUs			4			—			118			190
Performance-based RSUs (1)			452			411			390			368
Stock options (2)			496			237			407			191
Total anti-dilutive RSUs and stock options			952			648			915			749
Weighted average exercise price of anti-dilutive stock options (2)		$	95.75		$	98.21		$	97.28		$	97.36

(1)	Certain performance-based RSUs were outstanding but not included in the computation of earnings per share because the performance thresholds included in such RSUs have not been achieved.

(2)	Certain stock options were outstanding but not included in the computation of diluted earnings per share because the combination of the weighted-average exercise prices and average unamortized stock compensation cost exceeded the average market price of the Company’s common stock for the period.