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Earnings per Share (EPS)
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Earnings per Share (EPS) Earnings per Share (EPS)
The following table reconciles the net income and the weighted average common shares outstanding used in the computations of basic and diluted earnings per common share for the years ended December 31:
(In thousands, except per share amounts)202220212020
Net income$831,353 $681,783 $413,041 
   
Basic weighted average shares outstanding107,205 111,164 106,098 
Dilutive effect of nonvested shares448 391 278 
Diluted weighted average shares outstanding107,653 111,555 106,376 
Basic earnings per share$7.75 $6.13 $3.89 
Diluted earnings per share$7.72 $6.11 $3.88 
There were 77,759, 186,020 and 324,813 antidilutive shares for the years ended December 31, 2022, 2021 and 2020, respectively.
Nonvested performance-based share awards are considered contingently issuable for purposes of the EPS calculation. The 2022 and 2021 performance-based share awards vest based upon our compounded annual book value per share growth percentage and relative total shareholder return during a three-year performance period. The performance-based share awards granted in years before 2021 vest based upon our compounded annual book value per share growth percentage during a three-year performance period. The following table summarizes the performance-based shares issuable if the reporting date was the end of the contingency period.
2022 Performance-Based Grants2021 Performance-Based Grants2020 Performance-Based Grants2019 Performance-Based Grants2018 Performance-Based Grants
Reporting DatePercent Issuable Relative to TargetAs a Percent of Shares IssuedPercent Issuable Relative to TargetAs a Percent of Shares IssuedPercent Issuable Relative to Target
and Shares Issued
December 31, 2022131%66%100%50%100%
December 31, 2021100%50%100%100%
December 31, 202025%100%100%