Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2024

The following table reconciles basic and diluted earnings per common share for the three and nine months ended September 30, 2024 and 2023:


	For the Three Months Ended				For the Nine Months Ended
	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
	(In thousands, except per share amounts)
Basic:
Net income	$	372,376	$	146,319	$	400,955	$	67,034
Weighted-average number of common shares	339,059		354,139		342,707		354,559
Basic net income per common share	$	1.10	$	0.41	$	1.17	$	0.19

Diluted:
Net income	$	372,376	$	146,319	$	400,955	$	67,034
Weighted-average number of common shares	339,059		354,139		342,707		354,559
Dilutive share-based awards (a)	2,157		3,335		2,673		3,418
Weighted-average number of common and potential common shares	341,216		357,474		345,380		357,977
Diluted net income per common share	$	1.09	$	0.41	$	1.16	$	0.19

(a)For the three and nine months ended September 30, 2024, 6.9 million and 7.7 million share-based awards, respectively, were excluded from the calculation of diluted net income per common share because their effect would be antidilutive. For the three and nine months ended September 30, 2023, 6.5 million and 11.5 million share-based awards, respectively, were excluded from the calculation of diluted net income per common share because their effect would be antidilutive.