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Earnings per Share (EPS) | 12 Months Ended
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Dec. 31, 2024
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) |  | 2024 |  | 2023 |  | 2022
Net income |  | $ | 729,403 |  |  | $ | 696,386 |  |  | $ | 831,353 |
Basic weighted average shares outstanding |  | 105,394 |  |  | 106,222 |  |  | 107,205 |
Dilutive effect of nonvested shares |  | 1,156 |  |  | 907 |  |  | 448 |
Diluted weighted average shares outstanding |  | 106,550 |  |  | 107,129 |  |  | 107,653 |
Basic earnings per share |  | $ | 6.92 |  |  | $ | 6.56 |  |  | $ | 7.75 |
Diluted earnings per share |  | $ | 6.85 |  |  | $ | 6.50 |  |  | $ | 7.72 |
There were 51,776, 48,087 and 77,759 antidilutive shares for the years ended December 31, 2024, 2023 and 2022, respectively. Nonvested performance-based share awards are considered contingently issuable for purposes of the EPS calculation. The 2024, 2023 and 2022 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 following table summarizes the performance-based shares issuable if the reporting date was the end of the contingency period.
|  | 2024 Performance-Based Grants |  | 2023 Performance-Based Grants |  | 2022 Performance-Based Grants |  | 2021 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 |  | As a Percent of Shares Issued
2024 |  | 100% |  | 50% |  | 174% |  | 87% |  | 168% |  | 84% |  | (1) |  | (1)
2023 |  |  |  |  |  | 200% |  | 100% |  | 200% |  | 100% |  | 133% |  | 66%
2022 |  |  |  |  |  |  |  |  |  | 131% |  | 66% |  | 100% |  | 50%
(1) The 2021 performance based awards vested at 133% relative to target on March 1, 2024.

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