XML 22 R12.htm IDEA: XBRL DOCUMENT v3.23.2
Net Income Per Common Share
6 Months Ended
Jun. 30, 2023
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)2023202220232022
Net income$155,036 $114,985 $301,636 $87,399 
Preferred dividends(4,033)(4,033)(8,067)(6,050)
Net income applicable to common shares$151,003 $110,952 $293,569 $81,349 
Weighted average common shares outstanding:
Weighted average common shares outstanding (basic)290,559 290,862 290,822 259,108 
Effect of dilutive securities:
Restricted stock707 1,014 1,047 1,136 
Stock appreciation rights 1 
Weighted average diluted shares outstanding291,266 291,881 291,870 260,253 
Basic Net Income Per Common Share$0.52 $0.38 $1.01 $0.31 
Diluted Net Income Per Common Share$0.52 $0.38 $1.01 $0.31