Note 4 - Earnings Per Share

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

4 – Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Numerator:
Numerator for basic and diluted earnings per share – Net income available to common shareholders	$	110,227	$	58,044	$	202,680	$	103,377
Denominator:
Denominator for basic earnings per share – weighted average shares outstanding		55,640		56,009		55,788		55,819
Effect of dilutive securities–
Employee stock options and restricted stock awards		1,670		1,947		1,822		2,027
Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions		57,310		57,956		57,610		57,846
Basic earnings per common share	$	1.98	$	1.04	$	3.63	$	1.85
Diluted earnings per common share and common share equivalents	$	1.92	$	1.00	$	3.52	$	1.79

Options to purchase shares of common stock that were outstanding for the three months and six months ended June 30, 2022, and 2021, that were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive, are as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Weighted average anti-dilutive stock options		1,020		626		761		379