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Earnings Per Share Reconciliation (Tables)
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Schedule of Earnings Per Common Share Reconciliation

The table below shows earnings per common share and diluted earnings per common share, and reconciles the numerator and denominator of both earnings per common share calculations.

 

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

 

 

(In thousands, except per share amounts)

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

Net earnings

 

$

235,425

 

 

$

212,521

 

 

$

177,159

 

Less: Net earnings allocated to restricted stock

 

 

1,508

 

 

 

970

 

 

 

572

 

Net earnings allocated to common shareholders

 

$

233,917

 

 

$

211,551

 

 

$

176,587

 

Weighted average shares outstanding

 

 

139,652

 

 

 

135,165

 

 

 

136,031

 

Basic earnings per common share

 

$

1.67

 

 

$

1.57

 

 

$

1.30

 

Diluted earnings per common share:

 

 

 

 

 

 

 

 

 

Net income allocated to common shareholders

 

$

233,917

 

 

$

211,551

 

 

$

176,587

 

Weighted average shares outstanding

 

 

139,652

 

 

 

135,165

 

 

 

136,031

 

Incremental shares from assumed exercise of outstanding options

 

 

360

 

 

 

217

 

 

 

175

 

Diluted weighted average shares outstanding

 

 

140,012

 

 

 

135,382

 

 

 

136,206

 

Diluted earnings per common share

 

$

1.67

 

 

$

1.56

 

 

$

1.30