Note 4 - Earnings Per Share

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

4 – Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share information):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Numerator for basic and diluted earnings per share –Net income available to common shareholders	$	90,376	$	69,399	$	293,056	$	172,776
Denominator:
Denominator for basic earnings per share – weighted average shares outstanding		55,232		56,007		55,601		55,882
Effect of dilutive securities– Employee and director stock options and restricted share awards		1,643		1,799		1,762		1,952
Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions		56,875		57,806		57,363		57,834
Basic earnings per common share	$	1.64	$	1.24	$	5.27	$	3.09
Diluted earnings per common share and common share equivalents	$	1.59	$	1.20	$	5.11	$	2.99

Options to purchase shares of common stock that were outstanding for the three months and nine months ended September 30, 2022 and 2021 that were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive are as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Weighted average anti-dilutive options		1,000		624		841		460