4. Net Income per Common Share
Net income per common share (“EPS”) is calculated in accordance with the Earnings per Share topic of the Codification, which requires the presentation of basic and diluted EPS. Basic EPS is computed using the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the weighted average number of common shares outstanding during the period, plus the dilutive effect of potential common shares.
The table below presents the calculation of basic and diluted EPS:
|
| Three Months Ended |
|
| Six Months Ended |
| ||||||||||
|
| 2022 |
|
| 2021 |
|
| 2022 |
|
| 2021 |
| ||||
|
| (in thousands, except per share amounts) |
| |||||||||||||
Numerator: |
|
|
|
|
|
|
|
|
|
|
|
| ||||
Net income |
| $ | 987,209 |
|
| $ | 497,235 |
|
| $ | 1,626,850 |
|
| $ | 669,815 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Denominator: |
|
|
|
|
|
|
|
|
|
|
|
| ||||
Weighted average shares outstanding, basic |
|
| 170,378 |
|
|
| 207,114 |
|
|
| 173,730 |
|
|
| 206,844 |
|
Dilutive effect of options and RSUs |
|
| 1,171 |
|
|
| 1,204 |
|
|
| 1,795 |
|
|
| 1,626 |
|
Weighted average shares outstanding, diluted |
|
| 171,549 |
|
|
| 208,318 |
|
|
| 175,525 |
|
|
| 208,470 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Net income per share: |
|
|
|
|
|
|
|
|
|
|
|
| ||||
Basic |
| $ | 5.79 |
|
| $ | 2.40 |
|
| $ | 9.36 |
|
| $ | 3.24 |
|
Diluted |
| $ | 5.75 |
|
| $ | 2.39 |
|
| $ | 9.27 |
|
| $ | 3.21 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Antidilutive and contingent RSUs excluded from diluted EPS |
|
| 309 |
|
|
| 424 |
|
|
| 191 |
|
|
| 252 |
|
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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