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Earnings Per Common Share
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Earnings Per Common Share Earnings Per Common Share
Our unvested restricted stock awards contain non-forfeitable rights to dividends, and accordingly, these awards are deemed to be participating securities. Therefore, the Company applies the two-class method to calculate basic and diluted earnings. Under the two-class method, we allocate net income attributable to stockholders to common stockholders and holders of unvested restricted stock by using the weighted-average shares of each class outstanding for quarter-to-date and year-to-date periods, based on their respective participation rights to dividends declared and undistributed earnings. Basic earnings per common share is computed by dividing net income attributable to common stockholders by the weighted number of shares of common stock outstanding during the period. Diluted earnings per common share reflects the effect of dilutive securities. Dilution resulting from the conversion option within our convertible debt that was repaid in April 2021 was determined by computing an average of incremental shares included in the three months ended March 31, 2021 diluted EPS computation.

The following table summarizes the average number of common shares and the net income used in the calculation of basic and diluted earnings per common share ($ in thousands, except share and per share amounts):
Year Ended December 31,
202320222021
Net income$134,381 $65,501 $111,967 
 Add: net loss (income) attributable to noncontrolling interests1,273 902 $(163)
Net income attributable to stockholders135,654 66,403 111,804 
Less: net income attributable to unvested restricted stock awards(57)— — 
Net income attributable to common stockholders$135,597 $66,403 $111,804 
BASIC:
Weighted average common shares outstanding43,388,794 44,774,708 45,714,221 
DILUTED:
Weighted average common shares outstanding43,388,794 44,774,708 45,714,221 
Stock options 672 19,528 4,823 
Convertible debt— — 10,453 
Weighted average dilutive common shares outstanding43,389,466 44,794,236 45,729,497 
Earnings per common share - basic$3.13 $1.48 $2.45 
Earnings per common share - diluted$3.13 $1.48 $2.44 
Incremental anti-dilutive shares excluded:
Net share effect of stock options with an exercise price in excess of the
average market price for our common shares802,506 564,803 383,716 
Regular dividends declared per common share$3.60 $3.60 $3.8025