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Earnings Per Share | 3 Months Ended
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Mar. 31, 2025
Earnings Per Share |
Earnings Per Share | Note 11 — Earnings Per Share 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. ​ The following table sets forth the computation of basic and diluted earnings per common share for the three months ended March 31, 2025 and 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended
​ | ​ | March 31,
(Dollars and shares in thousands, except for per share amounts) |  | 2025 |  | 2024
Basic earnings per common share: | ​ | ​ |  | ​ | ​ |
Net income | ​ | $ | 89,080 | ​ | $ | 115,056
Weighted-average basic common shares | ​ | ​ | 101,410 | ​ | ​ | 76,301
Basic earnings per common share | ​ | $ | 0.88 | ​ | $ | 1.51
Diluted earnings per common share: | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 89,080 | ​ | $ | 115,056
Weighted-average basic common shares | ​ | ​ | 101,410 | ​ | ​ | 76,301
Effect of dilutive securities | ​ | ​ | 419 | ​ | ​ | 359
Weighted-average dilutive shares | ​ | ​ | 101,829 | ​ | ​ | 76,660
Diluted earnings per common share | ​ | $ | 0.87 | ​ | $ | 1.50
​ 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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, | ​
​ |  | 2025 |  | 2024 | ​
Number of shares | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 57,169 |
Range of exercise prices | ​ | ​ | ​ | ​ | ​ | — | ​ | $ | 87.30 | to | $ | 91.35 | ​
​

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