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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