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Earnings Per Share

3 Months Ended

Mar. 31, 2022

Earnings Per Common Share

Earnings Per Share

Note 12 — Earnings Per Share

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Basic earnings per share is calculated by dividing net income by the weighted-average shares of common stock outstanding during each period, excluding non-vested restricted shares. Our diluted earnings per share is based on the weighted-average shares of common stock outstanding during each period plus the maximum dilutive effect of common stock issuable upon exercise of stock options or vesting of restricted stock units. Stock options and unvested restricted stock units are considered common stock equivalents and are only included in the calculation of diluted earnings per common share when their effect is dilutive.

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The following table sets forth the computation of basic and diluted earnings per common share:

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​	​	​	​	​	​	​	​
​	​	Three Months Ended					​
​	​	March 31,					​
(Dollars and shares in thousands, except for per share amounts)		2022			2021
Basic earnings per common share:	​	​		​	​		​
Net income	​	$	100,329	​	$	146,949	​
Weighted-average basic common shares	​	​	71,447	​	​	71,009	​
Basic earnings per common share	​	$	1.40	​	$	2.07	​
Diluted earnings per common share:	​	​	​	​	​	​	​
Net income	​	$	100,329	​	$	146,949	​
Weighted-average basic common shares	​	​	71,447	​	​	71,009	​
Effect of dilutive securities	​	​	664	​	​	475	​
Weighted-average dilutive shares	​	​	72,111	​	​	71,484	​
Diluted earnings per common share	​	$	1.39	​	$	2.06	​

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The calculation of diluted earnings per common share excludes outstanding stock options for which the results would have been anti-dilutive under the treasury stock method as follows:

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Three Months Ended March 31,

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(Dollars in thousands)

2022

2021

Number of shares

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57,169

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62,235

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Range of exercise prices

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$

87.30

to

$

91.35

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$

87.30

to

$

91.35

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- References

No definition available.

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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

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