Schedule of Computation of Basic and Diluted Earnings Per Common Share |
The computation of basic and diluted earnings per share of common stock is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | September 30, | | September 30, | (in thousands, except per share amounts) | 2022 | | 2021 | | 2022 | | 2021 | Numerator: | | | | | | | | Net income | $ | 103,080 | | | $ | 116,655 | | | $ | 276,639 | | | $ | 224,874 | | Income allocated to participating securities | (614) | | | (420) | | | (1,526) | | | (910) | | Net income available to common shareholders | $ | 102,466 | | | $ | 116,235 | | | $ | 275,113 | | | $ | 223,964 | | Denominator: | | | | | | | | Weighted average shares of common stock outstanding – basic | 54,847 | | | 55,427 | | | 55,233 | | | 55,360 | | Basic earnings per share | $ | 1.87 | | | $ | 2.10 | | | $ | 4.98 | | | $ | 4.05 | | | | | | | | | | Numerator: | | | | | | | | Net income | $ | 103,080 | | | $ | 116,655 | | | $ | 276,639 | | | $ | 224,874 | | Income allocated to participating securities | (614) | | | (420) | | | (1,526) | | | (910) | | Net income available to common shareholders | $ | 102,466 | | | $ | 116,235 | | | $ | 275,113 | | | $ | 223,964 | | Denominator: | | | | | | | | Weighted average shares of common stock outstanding – basic | 54,847 | | | 55,427 | | | 55,233 | | | 55,360 | | Dilutive effect of stock options and PVRSUs | 395 | | | 478 | | | 520 | | | 429 | | Weighted average shares of common stock outstanding – diluted | 55,242 | | | 55,905 | | | 55,753 | | | 55,789 | | Diluted earnings per share | $ | 1.85 | | | $ | 2.08 | | | $ | 4.93 | | | $ | 4.01 | |
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