Earnings Per Share Level 1 (Notes)

6 Months Ended

Jun. 30, 2023

Earnings Per Share

Basic earnings per common share (EPS) excludes dilution and is computed by dividing Net income attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other obligations to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that shared in our earnings.

A reconciliation of the numerators and denominators of basic and diluted EPS is presented below:


	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
	(In thousands, except per share amounts)
Amounts attributable to common stockholders:







Net income — basic and diluted	$	132,188	$	132,670	$	276,951	$	352,183
Weighted average shares:
Weighted average shares — basic	151,233		158,705		152,174		160,009
Stock options	1,849		2,521		1,973		2,486
Restricted share units	50		64		60		73

Weighted average shares — diluted	153,132		161,290		154,207		162,568
Amounts attributable to common stockholders:






Earnings per share:
Basic	$	0.87	$	0.84	$	1.82	$	2.20
Diluted	$	0.86	$	0.82	$	1.80	$	2.17

The computation of diluted EPS excludes outstanding stock options and restricted share units in certain periods in which the inclusion of such equity awards would be antidilutive to the periods presented. Total antidilutive options not currently included in the computation of diluted earnings per share are as follows (in shares):


	Three months ended June 30,		Six months ended June 30,
	2023	2022	2023	2022
	(In thousands)

Antidilutive options	374	561	282	419