Earnings Per Share ("EPS")

3 Months Ended

Mar. 31, 2021

EARNINGS PER SHARE (“EPS”)

Basic EPS is computed by dividing reported net income available to common stockholders by weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing reported net income available to common stockholders by the weighted average common shares and all potential dilutive common shares outstanding during the period.

The computation of earnings per share is as follows:


	Three Months Ended March 31,
(In thousands, except per share data)		2021		2020
Net income available to common stockholders		$	67,407	$	77,223

Average common shares outstanding		108,210		112,888
Average potential dilutive common shares		445		249
Average diluted common shares		108,655		113,137

Basic earnings per share		$	0.62	$	0.68
Diluted earnings per share		$	0.62	$	0.68

There were no stock options excluded from the earnings per share calculation for the three months ended March 31, 2021 due to the average market price exceeding the related stock option exercise price. There were 614,100 stock options excluded from the earnings per share calculation due to the related stock option exercise price exceeding the average market price for the three months ended March 31, 2020.