EARNINGS PER COMMON SHARE

6 Months Ended

Jun. 30, 2023

Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted EPS reflects the assumed conversion of all dilutive securities, including, when applicable, restricted stock units (“RSUs”), performance stock units (“PSUs”) and performance stock options (“PSOs”).

The following table presents the computation of basic and diluted EPS:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per share data)	2023		2022		2023		2022
Net income	$	246,825	$	210,587	$	485,553	$	439,010

Basic weighted average common shares outstanding	79,592		80,923		79,815		81,255
Effect of dilutive securities:
PSUs, RSUs and PSOs	313		372		378		534
Diluted weighted average common shares outstanding	79,905		81,295		80,193		81,789


Earnings per common share:
Basic	$	3.10	$	2.60	$	6.08	$	5.40
Diluted	$	3.09	$	2.59	$	6.05	$	5.37