Earnings Per Share Level 1 (Notes)

12 Months Ended

Dec. 31, 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 EPS 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:


	Years Ended December 31,
	2023		2022		2021
	(In thousands, except per share amounts)
Amounts attributable to common stockholders:






Net income — basic and diluted	$	537,317	$	565,338	$	802,939


Weighted average shares:
Weighted average shares — basic	150,565		157,713		167,542
Stock options	1,726		2,343		2,501
Restricted share units	60		75		71

Weighted average shares — diluted	152,351		160,131		170,114
Amounts attributable to common stockholders:






Net income per share:
Basic	$	3.57	$	3.58	$	4.79
Diluted	$	3.53	$	3.53	$	4.72

The computation of diluted earnings per share excludes outstanding stock options in certain periods in which the inclusion of such options would be antidilutive to the periods presented. Total antidilutive options not currently included in the computation of dilutive EPS