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

The calculation of basic and diluted EPS was as follows:

 

 

Three months ended September 30,

 

 

Nine months ended September 30,

 

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

(In thousands, except per-share amounts)

Basic EPS:

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator (continuing operations):

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

206,793

 

 

$

194,737

 

 

$

554,187

 

 

$

552,452

 

 

Income attributable to unvested participating securities

 

 

(678

)

 

 

(704

)

 

 

(1,837

)

 

 

(1,872

)

 

Income from continuing operations used in calculating basic EPS

 

$

206,115

 

 

$

194,033

 

 

$

552,350

 

 

$

550,580

 

 

Numerator (discontinued operations):

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from discontinued operations

 

$

-

 

 

$

(30,364

)

 

$

-

 

 

$

(249,005

)

 

Loss attributable to unvested participating securities

 

 

-

 

 

 

92

 

 

 

-

 

 

 

700

 

 

Loss from discontinued operations used in calculating
   basic EPS

 

$

-

 

 

$

(30,272

)

 

$

-

 

 

$

(248,305

)

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average vested shares

 

 

32,404

 

 

 

33,834

 

 

 

32,852

 

 

 

34,365

 

 

Basic EPS from continuing operations

 

$

6.36

 

 

$

5.73

 

 

$

16.81

 

 

$

16.02

 

 

Basic EPS from discontinued operations

 

 

-

 

 

 

(0.89

)

 

 

-

 

 

 

(7.22

)

 

   Basic EPS

 

$

6.36

 

 

$

4.84

 

 

$

16.81

 

 

$

8.80

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted EPS:

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator (continuing operations):

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

206,793

 

 

$

194,737

 

 

$

554,187

 

 

$

552,452

 

 

Income attributable to unvested participating securities

 

 

(678

)

 

 

(703

)

 

 

(1,835

)

 

 

(1,869

)

 

Income from continuing operations used in calculating diluted EPS

 

$

206,115

 

 

$

194,034

 

 

$

552,352

 

 

$

550,583

 

 

Numerator (discontinued operations):

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from discontinued operations

 

$

-

 

 

$

(30,364

)

 

$

-

 

 

$

(249,005

)

 

Loss attributable to unvested participating securities

 

 

-

 

 

 

92

 

 

 

-

 

 

 

698

 

 

Loss from discontinued operations used in calculating
   diluted EPS

 

$

-

 

 

$

(30,272

)

 

$

-

 

 

$

(248,307

)

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average vested shares

 

 

32,404

 

 

 

33,834

 

 

 

32,852

 

 

 

34,365

 

 

Dilutive effect of incremental shares to be issued for
   contingently-issuable shares

 

 

47

 

 

 

57

 

 

 

46

 

 

 

56

 

 

Weighted-average shares used in calculating diluted EPS

 

 

32,451

 

 

 

33,891

 

 

 

32,898

 

 

 

34,421

 

 

Diluted EPS from continuing operations

 

$

6.35

 

 

$

5.72

 

 

$

16.79

 

 

$

16.00

 

 

Diluted EPS from discontinued operations

 

 

-

 

 

 

(0.89

)

 

 

-

 

 

 

(7.22

)

 

    Diluted EPS

 

$

6.35

 

 

$

4.83

 

 

$

16.79

 

 

$

8.78