Earnings Per Common Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Earnings Per Common Share

Earnings Per Common Share 

The following is a computation of basic and diluted earnings per common share for the periods indicated: 

	Three Months Ended				Nine Months Ended
(in thousands, except per share data)	September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2022
Net income	$	135,845	$	84,040	$	255,184	$	253,788
Weighted average number of common shares outstanding - basic (1)	208,070		129,319		190,997		129,262
Effect of potentially dilutive common shares (1), (2)	575		414		549		440
Weighted average number of common shares outstanding - diluted (1)	208,645		129,733		191,546		129,702
Earnings per common share:
Basic (1)	$	0.65	$	0.65	$	1.34	$	1.96
Diluted (1)	$	0.65	$	0.65	$	1.33	$	1.96

(1) Prior period has been restated as a result of the adjustment to common shares outstanding based on the Exchange Ratio.

(2) Represents the effect of the assumed vesting of non-participating restricted shares based on the treasury stock method.

The following table represents the weighted average outstanding restricted shares that were not included in the computation of diluted earnings per share because their effect would be anti-dilutive for the periods indicated:

	Three Months Ended		Nine Months Ended
(in thousands)	September 30, 2023	September 30, 2022	September 30, 2023	September 30, 2022
Restricted stock awards and units	878	—	749	—