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EARNINGS PER COMMON SHARE | 9 Months Ended
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Sep. 30, 2023
EARNINGS PER COMMON SHARE [Abstract] |
EARNINGS PER COMMON SHARE | NOTE 12 – EARNINGS PER COMMON . SHARE The calculations of earnings per common share for the quarters and nine-month periods ended September 30, 2023 and 2022 are as follows: Quarter Ended Nine-Month Period Ended September 30, September 30, 2023 2022 2023 2022 (In thousands, except per share information) Net income attributable to common stockholders $ 82,022 $ 74,603 $ 223,375 $ 231,898 Weighted-Average Shares: Average common shares outstanding 176,358 187,236 178,486 193,217 Average potential dilutive common shares 604 1,083 658 1,151 Average common shares outstanding - assuming dilution 176,962 188,319 179,144 194,368 Earnings per common share: Basic $ 0.47 $ 0.40 $ 1.25 $ 1.20 Diluted $ 0.46 $ 0.40 $ 1.25 $ 1.19 Earnings per common share is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares issued and outstanding. Net income attributable to common stockholders represents net income adjusted for any preferred stock dividends, including any dividends declared but not yet paid, and any cumulative dividends related to the current dividend period that have not been declared as of the end of the period. Basic weighted-average common shares outstanding exclude unvested shares of restricted stock that do not contain non-forfeitable dividend rights. Potential dilutive common shares consist of unvested shares of restricted stock and performance units (if any of the performance conditions are met as of the end of the reporting period), that do not contain non-forfeitable dividend or dividend equivalent rights using the treasury stock method. This method assumes that proceeds equal to the amount of compensation cost attributable to future services is used to repurchase shares on the open market at the average market price for the period. The difference between the number of potential dilutive shares issued and the shares purchased is added as incremental shares to the actual number of shares outstanding to compute diluted earnings per share. Unvested shares of restricted stock outstanding during the period that result in lower potentially dilutive shares issued than shares purchased under the treasury stock method are not included in the computation of dilutive earnings per share since their inclusion would have an antidilutive effect on earnings per share. There were no antidilutive shares of common stock during the quarters and nine-month periods ended September 30, 2023 and 2022.

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