Earnings Per Common Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Earnings Per Common Share

Earnings Per Common Share  

The following is a computation of basic and diluted earnings per common share for the three and six months ended June 30, 2022 and 2021: 

	Three Months Ended				Six Months Ended
(in thousands, except per share data)	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Net income	$	78,591	$	116,143	$	169,748	$	223,880
Weighted average number of common shares outstanding - basic	217,030		220,593		216,906		220,481
Effect of potentially dilutive common shares (1)	249		429		427		447
Weighted average number of common shares outstanding - diluted	217,279		221,022		217,333		220,928
Earnings per common share:
Basic	$	0.36	$	0.53	$	0.78	$	1.02
Diluted	$	0.36	$	0.53	$	0.78	$	1.01

(1)Represents the effect of the assumed vesting of non-participating restricted shares based on the treasury stock method. 

The following table represents the weighted average outstanding restricted shares that were not included in the computation of diluted earnings per share because their effect would be anti-dilutive for the three and six months ended June 30, 2022 and 2021:

	Three Months Ended		Six Months Ended
(in thousands)	June 30, 2022	June 30, 2021	June 30, 2022	June 30, 2021
Restricted stock awards	515	97	342	62