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Earnings Per Common Share (Tables)
3 Months Ended
Mar. 31, 2022
Earnings Per Common Share [Abstract]  
Schedule Of Net Income (Loss) Per Common Share

 

 

Three Months Ended

 

 

March 31,

(Dollars in thousands, except per share amounts)

2022

 

2021

Net income (loss) per share:

 

 

 

 

 

 

 

 

Numerator

 

 

 

 

 

 

 

 

Net income (loss)

$

297,751

 

 

$

341,862

 

 

Less: dividends declared-common shares and unvested common shares

 

(61,097)

 

 

 

(62,229)

 

 

Undistributed earnings

 

236,653

 

 

 

279,633

 

 

Percentage allocated to common shareholders (1)

 

98.7

%

 

 

98.7

%

 

 

 

233,504

 

 

 

276,031

 

 

Add: dividends declared-common shareholders

 

60,282

 

 

 

61,415

 

 

Numerator for basic and diluted earnings per common share

$

293,785

 

 

$

337,446

 

 

 

 

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

 

 

Denominator for basic earnings per weighted-average common shares

 

38,823

 

 

 

39,543

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

Options

 

14

 

 

 

54

 

 

Denominator for diluted earnings per adjusted weighted-average common shares

 

38,837

 

 

 

39,597

 

 

 

 

 

 

 

 

 

 

 

Per common share net income (loss)

 

 

 

 

 

 

 

 

Basic

$

7.57

 

 

$

8.53

 

 

Diluted

$

7.56

 

 

$

8.52

 

 

 

 

 

 

 

 

 

 

(1)

Basic weighted-average common shares outstanding

 

38,823

 

 

 

39,543

 

 

Basic weighted-average common shares outstanding and unvested common shares expected to vest

 

39,347

 

 

 

40,059

 

 

Percentage allocated to common shareholders

 

98.7

%

 

 

98.7

%

 

 

 

 

 

 

 

 

 

(Some amounts may not reconcile due to rounding.)