Earnings Per Share
Basic earnings per common share (EPS) excludes dilution and is computed by dividing Net income attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other obligations to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that shared in our earnings.
A reconciliation of the numerators and denominators of basic and diluted EPS is presented below:

Years Ended December 31,
202520242023
 (In thousands, except per share amounts)
Amounts attributable to common stockholders:   
Net income — basic and diluted$542,614 $518,648 $537,317 
Weighted average shares:   
Weighted average shares — basic141,603 145,271 150,565 
Stock options1,025 1,444 1,726 
Restricted share units61 67 60 
Weighted average shares — diluted142,689 146,782 152,351 
Amounts attributable to common stockholders:
Net income per share:   
Basic$3.83 $3.57 $3.57 
Diluted$3.80 $3.53 $3.53 
The computation of diluted earnings per share excludes outstanding stock options in certain periods in which the inclusion of such options would be antidilutive to the periods presented. Total antidilutive options not currently included in the computation of dilutive EPS

Historical Timeline

Fiscal YearFiled
2025Feb 12, 2026Showing above
2024Feb 13, 2025
2023Feb 13, 2024
2019Feb 18, 2020
2018Feb 20, 2019
2017Feb 14, 2018
2016Feb 15, 2017
2015Feb 18, 2016

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.