XML 22 R12.htm IDEA: XBRL DOCUMENT v3.22.2
Net Income Per Common Share
6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Net Income Per Common Share NET INCOME PER COMMON SHARE
Basic and diluted net income per common share are calculated using the two-class method.  Net income applicable to common shares 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 applicable to common shares is then divided by the weighted-average number of common shares and common share equivalents during the period.
The following table presents the calculation of basic and diluted net income per common share:
Three Months Ended
June 30,
Six Months Ended
June 30,
(dollars and shares in thousands, except per share data)2022202120222021
Net income$114,985 $62,786 $87,399 $149,604 
Preferred dividends(4,033)— (6,050)— 
Net income applicable to common shares$110,952 $62,786 $81,349 $149,604 
Weighted average common shares outstanding:
Weighted average common shares outstanding (basic)290,862 165,175 259,108 165,086 
Effect of dilutive securities:
Restricted stock1,014 737 1,136 713 
Stock appreciation rights5 22 9 22 
Weighted average diluted shares outstanding291,881 165,934 260,253 165,821 
Basic Net Income Per Common Share$0.38 $0.38 $0.31 $0.91 
Diluted Net Income Per Common Share$0.38 $0.38 $0.31 $0.90