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Earnings per Share (Tables)
 3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
Calculation of earnings (loss) per share
Table 6.1 reconciles the numerators and denominators used to calculate basic and diluted EPS.
Earnings per share
Table
6.1
 Three Months Ended March 31,
(In thousands, except per share data)20212020
Basic earnings per share:
Net income$150,021 $149,805 
Weighted average common shares outstanding - basic338,904 344,053 
Basic earnings per share$0.44 $0.44 
Diluted earnings per share:
Net income$150,021 $149,805 
Interest expense, net of tax (1):
9% Debentures3,712 4,566 
Diluted income available to common shareholders$153,733 $154,371 
Weighted average common shares outstanding - basic338,904 344,053 
Effect of dilutive securities:
Unvested RSUs1,694 2,033 
9% Debentures15,785 19,130 
Weighted average common shares outstanding - diluted356,383 365,216 
Diluted earnings per share$0.43 $0.42 
(1) Interest expense for the three months ended March 31, 2021 and 2020, respectively, has been tax effected at a rate of 21%.