XML 28 R18.htm IDEA: XBRL DOCUMENT
v3.23.1

Earnings per Share (EPS) | 3 Months Ended
--- | ---
Mar. 31, 2023
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:
|  |  |  | Three Months Ended March 31,
(In thousands, except per share amounts) |  |  |  |  |  | 2023 |  | 2022
Net income |  |  |  |  |  | $ | 170,827 |  |  | $ | 274,167 |
Basic weighted average shares outstanding |  |  |  |  |  | 106,943 |  |  | 108,166 |
Dilutive effect of nonvested shares |  |  |  |  |  | 642 |  |  | 424 |
Diluted weighted average shares outstanding |  |  |  |  |  | 107,585 |  |  | 108,590 |
Basic earnings per share |  |  |  |  |  | $ | 1.60 |  |  | $ | 2.53 |
Diluted earnings per share |  |  |  |  |  | $ | 1.59 |  |  | $ | 2.52 |
There were 111,870 and 81,036 antidilutive shares for the three months ended March 31, 2023 and 2022. Nonvested performance-based share awards are considered contingently issuable for purposes of the EPS calculation. The 2023, 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.
|  | 2023 Performance-Based Grants |  | 2022 Performance-Based Grants |  | 2021 Performance-Based Grants |  | 2020 Performance-Based Grants
Reporting Date |  | Percent Issuable Relative to Target |  | As a Percent of Shares Issued |  | Percent Issuable Relative to Target |  | As a Percent of Shares Issued |  | Percent Issuable Relative to Target |  | As a Percent of Shares Issued |  | Percent Issuable Relative to Target and Shares Issued
March 31, 2023 |  | 200% |  | 100% |  | 170% |  | 85% |  | 100% |  | 50% |  |
March 31, 2022 |  |  |  |  |  | 122% |  | 61% |  | 100% |  | 50% |  | 100%

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration