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Earnings Per Share ("EPS") (Tables)
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2025 and 2024 (in thousands, except per share data):

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Net income

 

$

211,371

 

 

$

158,505

 

 

$

419,418

 

 

$

487,374

 

Preferred dividends

 

 

9,320

 

 

 

9,320

 

 

 

27,961

 

 

 

27,961

 

Net income available to common shareholders

 

$

202,051

 

 

$

149,185

 

 

$

391,457

 

 

$

459,413

 

Shares for basic and diluted calculation:

 

 

 

 

 

 

 

 

 

 

 

 

Average shares used in basic computation

 

 

103,119

 

 

 

103,966

 

 

 

103,735

 

 

 

104,135

 

Dilutive effect of stock options and units (1)

 

 

6,939

 

 

 

7,028

 

 

 

6,183

 

 

 

6,322

 

Average shares used in diluted computation

 

 

110,058

 

 

 

110,994

 

 

 

109,918

 

 

 

110,457

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.96

 

 

$

1.43

 

 

$

3.77

 

 

$

4.41

 

Diluted

 

$

1.84

 

 

$

1.34

 

 

$

3.56

 

 

$

4.16

 

(1)
Diluted earnings per share is computed on the basis of the weighted-average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Diluted earnings per share include units.