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Earnings per Share | 6 Months Ended
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Jun. 30, 2025
Earnings Per Share [Abstract] |
Earnings per Share | Earnings per Share Basic earnings per share (“EPS”) is calculated by dividing net income by the weighted average number of shares of common stock outstanding, including participating securities. Our participating securities are comprised of vested restricted stock and restricted stock units (“RSUs”) with non-forfeitable rights to dividends. Diluted EPS includes the components of basic EPS and also gives effect to dilutive common stock equivalents. The determination of whether components are dilutive is calculated independently for each period. We calculate diluted EPS using the treasury stock method which reflects the potential dilution that could occur if unvested RSUs result in the issuance of common stock. Table 6.1 reconciles the numerators and denominators used to calculate basic and diluted EPS.
Earnings per share |  |  |  |
Table | 6.1 |  |  |  |  |  |  |  |
|  |  | Three Months Ended June 30, |  | Six Months Ended June 30,
(In thousands, except per share data) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Net income - basic and diluted |  | $ | 192,482 |  |  | $ | 204,228 |  |  | $ | 377,942 |  |  | $ | 378,325 |
Basic weighted average common shares outstanding |  | 236,333 |  |  | 265,315 |  |  | 240,218 |  |  | 267,814 |
Dilutive effect of unvested RSUs |  | 1,638 |  |  | 1,557 |  |  | 1,991 |  |  | 2,176 |
Diluted weighted average common shares outstanding |  | 237,971 |  |  | 266,872 |  |  | 242,209 |  |  | 269,990 |
Earnings per share: |  |  |  |  |  |  |  |
Basic earnings per share |  | $ | 0.81 |  |  | $ | 0.77 |  |  | $ | 1.57 |  |  | $ | 1.41 |
Diluted earnings per share |  | $ | 0.81 |  |  | $ | 0.77 |  |  | $ | 1.56 |  |  | $ | 1.40 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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