Earnings per share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Earnings per share

NOTE 7 – Earnings per share

Our earnings per share (basic and diluted) are presented below (in thousands, except per share amounts):

	Quarter ended Mar. 31,
	2024			2023
Net income	$	189,262		$	104,004
Net loss attributable to the noncontrolling interest		298			299
Adjustment of redeemable noncontrolling interest to redemption value		(660	)		(635	)
Earnings available to common shareholders	$	188,900		$	103,668
Weighted average number of common shares outstanding - basic		177,823			224,544
Effect of dilutive securities:
Restricted stock units		438			187
Performance share awards		176			108
Weighted average number of common shares outstanding - diluted		178,437			224,839
Net income per share - basic	$	1.06		$	0.46
Net income per share - diluted	$	1.06		$	0.46

Our calculation of diluted earnings per share includes the dilutive effects for the assumed vesting of outstanding restricted stock units and performance share awards. The diluted earnings per share amounts exclude the effects of approximately 500 thousand stock awards for the three months ended March 31, 2024 as their inclusion would be accretive to earnings per share.