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Net Income Per Share
9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Net Income Per Share NET INCOME PER SHARE
Basic and diluted net income per share are calculated using the two-class method.  Net income is divided by the weighted-average number of common shares outstanding during the period.  Adjustments to the weighted average number of common shares outstanding are made only when such adjustments will dilute net income per common share.  Net income is then divided by the weighted-average number of common shares and common share equivalents during the period.
The following table reconciles basic and diluted net income per share:
Three Months Ended
September 30,
Nine Months Ended
September 30,
(dollars and shares in thousands, except per share data)2021202020212020
Basic Net Income Per Share    
Net income$71,746 $77,944 $221,350 $152,289 
Weighted average common shares outstanding165,258 164,773 165,144 165,748 
Basic Net Income Per Share$0.43 $0.47 $1.34 $0.92 
Diluted Net Income Per Share
Net income$71,746 $77,944 $221,350 $152,289 
Weighted average common shares outstanding165,258 164,773 165,144 165,748 
Effect of dilutive securities:
Restricted stock660 611 696 586 
Stock options and appreciation rights21 35 22 36 
Weighted average shares outstanding165,939 165,419 165,862 166,370 
Diluted Net Income Per Share$0.43 $0.47 $1.33 $0.92