Earnings Per Share Level 1 (Notes)

9 Months Ended

Sep. 30, 2021

Earnings Per Share

Basic earnings per common share (EPS) excludes dilution and is computed by dividing Net income attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other obligations to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that shared in our earnings.

A reconciliation of the numerators and denominators of basic and diluted EPS is presented below:


	Three months ended September 30,				Nine months ended September 30,
	2021		2020		2021		2020
	(In thousands, except per share amounts)
Amounts attributable to common stockholders:







Net income — basic and diluted	$	209,855	$	127,415	$	596,439	$	314,864
Weighted average shares:
Weighted average shares — basic	167,417		175,982		168,586		178,238
Stock options	2,513		2,115		2,409		2,184
Restricted share units	75		43		62		41

Weighted average shares — diluted	170,005		178,140		171,057		180,463
Amounts attributable to common stockholders:






Earnings per share:
Basic	$	1.25	$	0.72	$	3.54	$	1.77
Diluted	$	1.23	$	0.72	$	3.49	$	1.74

The computation of diluted EPS excludes outstanding stock options and restricted share units in certain periods in which the inclusion of such equity awards would be antidilutive to the periods presented. Total antidilutive options and restricted stock units not currently included in the computation of diluted earnings per share are as follows (in shares):


	Three months ended September 30,		Nine months ended September 30,
	2021	2020	2021	2020
	(In thousands)

Antidilutive options	—	1,739	558	1,572
Antidilutive restricted share units	—	—	—	54