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Earnings Per Common Share | 6 Months Ended
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Jun. 30, 2022
Earnings Per Common Share [Abstract] |
Earnings Per Common Share | 6. EARNINGS PER COMMON SHARE Basic earnings per share are calculated by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per share reflect the potential dilution that would occur if options granted under various share-based compensation plans were exercised resulting in the issuance of common shares that would participate in the earnings of the entity. Net income (loss) per common share has been computed as per below, based upon weighted average common basic and dilutive shares outstanding. Three Months Ended Six Months Ended June 30, June 30, (Dollars in thousands, except per share amounts) 2022 2021 2022 2021 Net income (loss) per share: Numerator Net income (loss) $ 122,630 $ 679,982 $ 420,381 $ 1,021,844 Less: dividends declared-common shares and unvested common shares (64,982) (62,045) (126,079) (124,274) Undistributed earnings 57,648 617,937 294,302 897,570 Percentage allocated to common shareholders (1) 98.6 % 98.6 % 98.7 % 98.7 % 56,870 609,411 290,356 885,595 Add: dividends declared-common shareholders 64,184 61,245 124,466 122,659 Numerator for basic and diluted earnings per common share $ 121,054 $ 670,656 $ 414,822 $ 1,008,254 Denominator Denominator for basic earnings per weighted -average common shares 38,898 39,527 38,861 39,535 Effect of dilutive securities: Options - 41 7 48 Denominator for diluted earnings per adjusted weighted-average common shares 38,898 39,567 38,867 39,582 Per common share net income (loss) Basic $ 3.11 $ 16.97 $ 10.67 $ 25.50 Diluted $ 3.11 $ 16.95 $ 10.67 $ 25.47 (1) Basic weighted-average common shares outstanding 38,898 39,527 38,861 39,535 Basic weighted-average common shares outstanding and unvested common shares expected to vest 39,430 40,080 39,389 40,069 Percentage allocated to common shareholders 98.6 % 98.6 % 98.7 % 98.7 % (Some amounts may not reconcile due to rounding.) There were no anti-diluted options outstanding for the three and six months ended June 30, 2022 and 2021. All outstanding options granted under share-based compensation plans expire on September 19, 2022 .

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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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