XML 23 R12.htm IDEA: XBRL DOCUMENT

Note 5 - Earnings Per Share

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

5. Earnings per Share

Basic earnings per share excludes dilution and is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock and resulted in the issuance of common stock that then shared in earnings. Restricted stock units (“RSUs”) with anti-dilutive effect were not included in the computation of diluted earnings per share. The following table sets forth earnings per common share calculations:

		*Three Months Ended September 30,*								*Nine Months Ended September 30,*
		*2024*				*2023*				*2024*				*2023*
		(In thousands, except share and per share data)

Net income		$	67,514			$	82,371			$	205,778			$	271,598

Weighted-average shares:
Basic weighted-average number of common shares outstanding			71,786,624				72,568,518				72,370,995				72,546,149
Dilutive effect of weighted-average outstanding common share equivalents:
RSUs			245,832				321,896				236,555				301,758
Diluted weighted-average number of common shares outstanding			72,032,456				72,890,414				72,607,550				72,847,907

Average restricted stock units with anti-dilutive effect			309				—				11,464				2,098
Earnings per common share:
Basic		$	0.94			$	1.14			$	2.84			$	3.74
Diluted		$	0.94			$	1.13			$	2.83			$	3.73