| Earnings Per Share |
Earnings Per Share Class A and Class B basic earnings per share and Class B diluted earnings per share are calculated under the two-class method. The two-class method allocates earnings to each class of stock based upon its dividend rights. Class B shares are convertible into Class A shares at a conversion ratio of 2,400 to 1. See Note 10, "Capital Stock".
Class A diluted earnings per share are calculated under the if-converted method, which reflects the conversion of Class B shares to Class A shares. Diluted earnings per share calculations include the dilutive effect of assumed issuance of stock-based awards under compensation plans that have the option to be paid in stock using the treasury stock method.
A reconciliation of the numerators and denominators used in the basic and diluted per-share computations is presented as follows for each class of common stock: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, | | | 2021 | | 2020 | | (dollars in thousands, except per share data) | | Allocated net income (numerator) | | Weighted shares (denominator) | | Per-share amount | | Allocated net income (numerator) | | Weighted shares (denominator) | | Per-share amount | | Class A – Basic EPS: | | | | | | | | | | | | | | Income available to Class A stockholders | | $ | 89,484 | | | 46,189,035 | | | $ | 1.94 | | | $ | 88,486 | | | 46,189,030 | | | $ | 1.92 | | | Dilutive effect of stock-based awards | | 0 | | | 15,410 | | | — | | | 0 | | | 20,599 | | | — | | | Assumed conversion of Class B shares | | 739 | | | 6,100,800 | | | — | | | 730 | | | 6,100,800 | | | — | | | Class A – Diluted EPS: | | | | | | | | | | | | | Income available to Class A stockholders on Class A equivalent shares | | $ | 90,223 | | | 52,305,245 | | | $ | 1.72 | | | $ | 89,216 | | | 52,310,429 | | | $ | 1.71 | | | Class B – Basic and diluted EPS: | | | | | | | | | | | | | | Income available to Class B stockholders | | $ | 739 | | | 2,542 | | | $ | 291 | | | $ | 730 | | | 2,542 | | | $ | 287 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Nine months ended September 30, | | | 2021 | | 2020 | | (dollars in thousands, except per share data) | | Allocated net income (numerator) | | Weighted shares (denominator) | | Per-share amount | | Allocated net income (numerator) | | Weighted shares (denominator) | | Per-share amount | | Class A – Basic EPS: | | | | | | | | | | | | | | Income available to Class A stockholders | | $ | 240,830 | | | 46,188,729 | | | $ | 5.21 | | | $ | 228,632 | | | 46,188,544 | | | $ | 4.95 | | | Dilutive effect of stock-based awards | | 0 | | | 18,330 | | | — | | | 0 | | | 23,244 | | | — | | | Assumed conversion of Class B shares | | 1,988 | | | 6,100,800 | | | — | | | 1,887 | | | 6,100,800 | | | — | | | Class A – Diluted EPS: | | | | | | | | | | | | | Income available to Class A stockholders on Class A equivalent shares | | $ | 242,818 | | | 52,307,859 | | | $ | 4.64 | | | $ | 230,519 | | | 52,312,588 | | | $ | 4.41 | | | Class B – Basic and diluted EPS: | | | | | | | | | | | | | | Income available to Class B stockholders | | $ | 1,988 | | | 2,542 | | | $ | 782 | | | $ | 1,887 | | | 2,542 | | | $ | 742 | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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