Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Common Share

The computation of basic and diluted earnings per common share is presented below for the periods indicated (in thousands, except share and per share data):

	Three Months Ended March 31,
c	2024		2023
Basic earnings per common share:
Numerator:
Net income	$	47,980	$	52,882
Distributed and undistributed earnings allocated to participating securities	(680)		(798)
Income allocated to common stockholders for basic earnings per common share	$	47,300	$	52,084
Denominator:
Weighted average common shares outstanding	74,509,107		74,755,002
Less average unvested stock awards	(1,127,838)		(1,193,881)
Weighted average shares for basic earnings per common share	73,381,269		73,561,121
Basic earnings per common share	$	0.64	$	0.71
Diluted earnings per common share:
Numerator:
Income allocated to common stockholders for basic earnings per common share	$	47,300	$	52,084
Adjustment for earnings reallocated from participating securities	1		3
Income used in calculating diluted earnings per common share	$	47,301	$	52,087
Denominator:
Weighted average shares for basic earnings per common share	73,381,269		73,561,121
Dilutive effect of certain share-based awards	255,824		447,581
Weighted average shares for diluted earnings per common share	73,637,093		74,008,702
Diluted earnings per common share	$	0.64	$	0.70