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Earnings Per Share | 3 Months Ended
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Mar. 31, 2022
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The Company reports basic and diluted earnings per share. Basic earnings per share is computed by dividing net income attributable to shareholders of the Company by the weighted average number of common shares outstanding during the reported period. Diluted earnings per share reflect the potential dilution related to equity-based incentives using the treasury stock method. The calculation and reconciliation of basic and diluted earnings per share for the three months ended March 31 is as follows (in thousands, except per share data):
|  | Three Months Ended March 31, |  |
|  | 2022 |  | 2021 |  |  |  |
Net income |  | $ | 217,952 |  |  | $ | 184,239 |  |  |  |  |
Denominator for basic earnings per share |  | 77,737 |  |  | 83,475 |  |  |  |  |
Dilutive securities |  | 1,549 |  |  | 2,289 |  |  |  |  |
Denominator for diluted earnings per share |  | 79,286 |  |  | 85,764 |  |  |  |  |
Basic earnings per share |  | $ | 2.80 |  |  | $ | 2.21 |  |  |  |  |
Diluted earnings per share |  | $ | 2.75 |  |  | $ | 2.15 |  |  |  |  |
Diluted earnings per share for the three months ended March 31, 2022 and 2021 excludes the effect of 2.1 million and 0.1 million, respectively, of common stock that may be issued upon the exercise of employee stock options because such effect would be anti-dilutive. Diluted earnings per share also excludes the effect of an immaterial amount and 0.2 million shares of performance-based restricted stock for which the performance criteria have not yet been achieved for the three month periods ended March 31, 2022 and 2021, respectively.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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