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Earnings Per Share | 6 Months Ended
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Jun. 30, 2022
Earnings Per Share [Abstract] |
Earnings per Share | Earnings per Share ("EPS") During the three and six months ended June 30, 2022, we repurchased and subsequently retired 3,626,591 shares and 6,662,421 shares, respectively, of our common stock for $30.0 million and $60.0 million, respectively, under our common stock repurchase program. We did not repurchase any shares of our common stock under this program during the six months ended June 30, 2021. The following table presents a reconciliation of the numerator and denominator of basic and diluted EPS for the three and six months ended June 30, 2022 and 2021:
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30, |  |  |  |
| 2022 |  | 2021 |  | 2022 |  | 2021 |  |  |  |
| (Dollars in thousands, except per share amounts) |  |  |  |
Numerator for basic and diluted EPS: |  |  |  |  |  |  |  |  |  |  |
Net income | $ | 114,997 |  |  | $ | 28,165 |  |  | $ | 239,180 |  |  | $ | 126,964 |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding for basic calculation | 258,845,588 |  |  | 267,560,712 |  |  | 260,719,446 |  |  | 267,440,501 |  |  |  |  |
Add: Effect of equity awards | — |  |  | 247,232 |  |  | 14,827 |  |  | 324,877 |  |  |  |  |
Weighted average common shares outstanding for diluted calculation | 258,845,588 |  |  | 267,807,944 |  |  | 260,734,273 |  |  | 267,765,378 |  |  |  |  |
Basic EPS | $ | 0.44 |  |  | $ | 0.11 |  |  | $ | 0.92 |  |  | $ | 0.47 |  |  |  |  |
Diluted EPS | $ | 0.44 |  |  | $ | 0.11 |  |  | $ | 0.92 |  |  | $ | 0.47 |  |  |  |  |
Basic EPS is calculated by dividing net income by the weighted average number of common shares outstanding, which included 219,622 and 206,934 shares of participating securities in the three and six months ended June 30, 2022, respectively, and 122,455 and 116,631 shares of participating securities in the three and six months ended June 30, 2021, respectively. Diluted EPS is calculated by dividing net income by the sum of the weighted average number of common shares outstanding plus the additional common shares that would have been outstanding if potentially dilutive securities had been issued. The weighted average common shares outstanding for the diluted EPS calculation excludes consideration of 2,385,187 and 1,903,300 equivalent shares for the three and six months ended June 30, 2022, respectively, and 1,358,696 and 1,250,722 equivalent shares for the three and six months ended June 30, 2021, respectively, as their effect would have been anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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