EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2023

EARNINGS PER SHAREThe Company reports both basic and diluted earnings per share. Basic earnings per share is computed by dividing net income available to participating common stockholders by the weighted average number of participating common shares outstanding for the period. Diluted earnings per share is calculated by dividing the net income available to participating common shareholders by the diluted weighted average number of shares outstanding for the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive equity.

A reconciliation of weighted average shares outstanding is as follows (in thousands):


	Three Months Ended March 31,
		2023	2022

Weighted-average outstanding common shares		490,209	489,616
Add participating securities:
Weighted-average time-lapse restricted awards		2,307	2,597
Total weighted-average shares outstanding - basic		492,516	492,213
Dilutive effect of restricted stock units and PSUs		185	112
Weighted-average shares outstanding - diluted		492,701	492,325