EARNINGS PER COMMON SHARE

9 Months Ended

Sep. 30, 2024

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 September 30,				Nine Months Ended September 30,
(in thousands, except per share data)	2024		2023		2024		2023
Net income	$	280,901	$	259,659	$	803,613	$	745,212

Basic weighted average common shares outstanding	78,499		79,116		78,925		79,580
Effect of dilutive securities:
PSUs, RSUs and PSOs	230		384		234		379
Diluted weighted average common shares outstanding	78,729		79,500		79,159		79,959


Earnings per common share:
Basic	$	3.58	$	3.28	$	10.18	$	9.36
Diluted	$	3.57	$	3.27	$	10.15	$	9.32