Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Net Income Per Share

The following table presents the computation of basic and diluted net earnings (loss) per share for the years indicated:

	Year Ended December 31,
	2020		2019		2018
	(Dollars in thousands, except per share data)
Basic Earnings (Loss) Per Share:
Net earnings (loss)	$	(1,237,574)	$	468,636	$	465,339
Less: earnings allocated to unvested restricted stock(1)	(1,782)		(5,182)		(5,119)
Net earnings (loss) allocated to common shares	$	(1,239,356)	$	463,454	$	460,220
Weighted-average basic shares and unvested restricted stock outstanding	118,463		120,468		125,100
Less: weighted-average unvested restricted stock outstanding	(1,610)		(1,502)		(1,460)
Weighted-average basic shares outstanding	116,853		118,966		123,640
Basic earnings (loss) per share	$	(10.61)	$	3.90	$	3.72
Diluted Earnings (Loss) Per Share:
Net earnings (loss) allocated to common shares	$	(1,239,356)	$	463,454	$	460,220
Weighted-average diluted shares outstanding	116,853		118,966		123,640
Diluted earnings (loss) per share	$	(10.61)	$	3.90	$	3.72

________________________

(1)    Represents cash dividends paid to holders of unvested restricted stock, net of forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any.