Earnings Per Share

6 Months Ended

Jun. 30, 2022

19. EARNINGS PER SHARE

The reconciliation of the numerator and denominator of basic earnings per share with that of diluted earnings per share is presented as follows:


	Three Months Ended June 30				Six Months Ended June 30
	2022		2021		2022		2021
Distributed earnings allocated to common stock	$	48,288	$	45,085	$	97,345	$	90,153
Undistributed earnings allocated to common stock		47,071		49,478		79,462		111,007

Net earnings allocated to common shareholders	$	95,359	$	94,563	$	176,807	$	201,160

Average common shares outstanding		134,623,061		128,750,851		135,336,729		128,693,616
Equivalents from stock options		240,589		283,137		297,669		252,664

Average diluted shares outstanding		134,863,650		129,033,988		135,634,398		128,946,280

Earnings per basic common share	$	0.71	$	0.73	$	1.31	$	1.56
Earnings per diluted common share	$	0.71	$	0.73	$	1.30	$	1.56

Antidilutive stock options and restricted stock outstanding of 847,758 and 1,144,734 for the three months and six months ended June 30, 2022, respectively, were excluded from the earnings per diluted common share calculation as compared to 468,892 and 978,095 for the three months and six months ended June 30, 2021, respectively.