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Earnings per Share (EPS) (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Reconciliation of Net Income and Weighted Average Common Shares Outstanding used in Computations of Basic and Diluted Earnings per Common Share

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)						2023						2022						2021
Net income						$	696,386					$	831,353					$	681,783
Basic weighted average shares outstanding						106,222						107,205						111,164
Dilutive effect of nonvested shares						907						448						391
Diluted weighted average shares outstanding						107,129						107,653						111,555
Basic earnings per share						$	6.56					$	7.75					$	6.13
Diluted earnings per share						$	6.50					$	7.72					$	6.11

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

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						2019 Performance-Based Grants
As of December 31,						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
2023						200%						100%						200%						100%						133%						66%
2022																		131%						66%						100%						50%						100%
2021																														100%						50%						100%						100%

X

- Definition

Tabular disclosure of share-based payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

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