XML 29 R18.htm IDEA: XBRL DOCUMENT v3.26.1
Earnings Per Share
3 Months Ended
Mar. 31, 2026
Earnings Per Share  
Earnings Per Share

Note 10 — 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, 2026 and 2025:

Three Months Ended

March 31,

(Dollars and shares in thousands, except for per share amounts)

  ​ ​ ​

2026

  ​ ​ ​

2025

Basic earnings per common share:

  ​ ​ ​

  ​ ​ ​

Net income

$

225,820

$

89,080

Weighted-average basic common shares

98,544

101,410

Basic earnings per common share

$

2.29

$

0.88

Diluted earnings per common share:

Net income

$

225,820

$

89,080

Weighted-average basic common shares

98,544

101,410

Effect of dilutive securities

378

419

Weighted-average dilutive shares

98,922

101,829

Diluted earnings per common share

$

2.28

$

0.87