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Earnings Per Share | 3 Months Ended
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Mar. 31, 2025
Earnings Per Share [Abstract] |
Earnings Per Share | EARNINGS PER SHARE The following tables present the computations of basic and diluted net earnings per share by class of common stock for the periods indicated:
| Three Months Ended March 31, 2025
|  |  |  |  | Non-Voting |  |
|  |  | Class B |  | Common |  |
| Voting |  | Non-Voting |  | Stock |  | Total
| Common |  | Common |  | Equivalents |  | Common
| (In thousands, except per share amounts)
Basic Earnings Per Share: |  |  |  |  |  |  |
Net earnings available to common and equivalent stockholders | $ | 40,963 |  |  | $ | 123 |  |  | $ | 2,535 |  |  | $ | 43,621 |
Less: Earnings allocated to unvested restricted stock (1) | (47) |  |  | — |  |  | — |  |  | (47) |
Net earnings allocated to common and equivalent shares | $ | 40,916 |  |  | $ | 123 |  |  | $ | 2,535 |  |  | $ | 43,574 |
Weighted average basic shares and unvested restricted |  |  |  |  |  |  |
stock outstanding | 158,429 |  |  | 477 |  |  | 9,791 |  |  | 168,697 |
Less: weighted average unvested restricted stock |  |  |  |  |  |  |
outstanding | (202) |  |  | — |  |  | — |  |  | (202) |
Weighted average basic shares outstanding | 158,227 |  |  | 477 |  |  | 9,791 |  |  | 168,495 |
Basic earnings per share | $ | 0.26 |  |  | $ | 0.26 |  |  | $ | 0.26 |  |  | $ | 0.26 |
Diluted Earnings Per Share: |  |  |  |  |  |  |
Net earnings allocated to common and equivalent shares | $ | 40,963 |  |  | $ | 123 |  |  | $ | 2,535 |  |  | $ | 43,621 |
Weighted average diluted shares outstanding | 158,734 |  |  | 477 |  |  | 10,223 |  |  | 169,434 |
Diluted earnings per share | $ | 0.26 |  |  | $ | 0.26 |  |  | $ | 0.25 |  |  | $ | 0.26 |
________________________ (1) Represents cash dividends paid to holders of unvested restricted stock, net of forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any.
| Three Months Ended March 31, 2024
|  |  |  |  | Non-Voting |  |
|  |  | Class B |  | Common |  |
| Voting |  | Non-Voting |  | Stock |  | Total
| Common |  | Common |  | Equivalents |  | Common
| (In thousands, except per share amounts)
Basic Earnings Per Share: |  |  |  |  |  |  |
Net earnings available to common and equivalent stockholders | $ | 19,521 |  |  | $ | 59 |  |  | $ | 1,325 |  |  | $ | 20,905 |
Less: Earnings allocated to unvested restricted stock (1) | (53) |  |  | — |  |  | — |  |  | (53) |
Net loss allocated to common and equivalent shares | $ | 19,468 |  |  | $ | 59 |  |  | $ | 1,325 |  |  | $ | 20,852 |
Weighted average basic shares and unvested restricted |  |  |  |  |  |  |
stock outstanding | 157,838 |  |  | 477 |  |  | 10,658 |  |  | 168,973 |
Less: weighted average unvested restricted stock |  |  |  |  |  |  |
outstanding | (830) |  |  | — |  |  | — |  |  | (830) |
Weighted average basic shares outstanding | 157,008 |  |  | 477 |  |  | 10,658 |  |  | 168,143 |
Basic earnings per share | $ | 0.12 |  |  | $ | 0.12 |  |  | $ | 0.12 |  |  | $ | 0.12 |
Diluted Earnings Per Share: |  |  |  |  |  |  |
Net earnings allocated to common and equivalent shares | $ | 19,468 |  |  | $ | 59 |  |  | $ | 1,325 |  |  | $ | 20,852 |
Weighted average diluted shares outstanding | 157,008 |  |  | 477 |  |  | 10,658 |  |  | 168,143 |
Diluted earnings per share | $ | 0.12 |  |  | $ | 0.12 |  |  | $ | 0.12 |  |  | $ | 0.12 |
________________________ (1) Represents cash dividends paid to holders of unvested restricted stock, net of forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any. The following table presents the weighted average outstanding restricted shares and warrants that were not included in the computation of diluted earnings per share because their effect would be anti-dilutive for the periods indicated:
| Three Months Ended |  |
| March 31, |  |
| 2025 |  | 2024 |  |  |  |
| (In thousands)
Restricted stock awards and units (1) | 202 |  |  | 830 |  |  |  |  |
Warrants | 18,902 |  |  | 18,902 |  |  |  |  |

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