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Earnings Per Share Earnings Per Share | 12 Months Ended
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Dec. 31, 2025
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The following table reconciles the weighted-average common shares outstanding used in the calculation of basic EPS to the weighted-average common shares outstanding used in the calculation of diluted EPS for the years ended December 31, 2025, 2024 and 2023:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (in thousands)
Determination of shares: |  |  |  |  |
Weighted-average common shares outstanding | 279,605 |  |  | 272,802 |  |  | 264,053 |
Assumed conversion of restricted stock awards (1) | 127 |  |  | 160 |  |  | 156 |
Assumed conversion of performance-based restricted stock awards | 203 |  |  | 540 |  |  | 784 |
Dilution attributable to equity forward contract | 108 |  |  | 32 |  |  | — |
Diluted weighted-average common shares outstanding | 280,043 |  |  | 273,534 |  |  | 264,993 |
The following table presents the calculation of basic and diluted EPS for the Company’s common stock for the years ended December 31, 2025, 2024 and 2023:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (in thousands, except per share data)
Calculation of basic EPS: |  |  |  |  |
Net income attributable to common shareholders | $ | 825,111 |  |  | $ | 784,620 |  |  | $ | 734,283 |
Less: Net income allocated to participating securities | (741) |  |  | (459) |  |  | (434) |
Net income for earnings per share purposes | $ | 824,370 |  |  | $ | 784,161 |  |  | $ | 733,849 |
Weighted-average common shares outstanding | 279,605 |  |  | 272,802 |  |  | 264,053 |
Basic EPS | $ | 2.95 |  |  | $ | 2.87 |  |  | $ | 2.78 |
Calculation of diluted EPS: |  |  |  |  |
Net income attributable to common shareholders | $ | 825,111 |  |  | $ | 784,620 |  |  | $ | 734,283 |
Diluted weighted-average common shares outstanding (1) | 279,916 |  |  | 273,534 |  |  | 264,993 |
Diluted EPS | $ | 2.95 |  |  | $ | 2.87 |  |  | $ | 2.77 |
Antidilutive securities excluded from the computation of diluted earnings per share | 24 |  |  | 25 |  |  | 103 |

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