Note 3 - Earnings Per Share

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

3 – Earnings Per Share

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator:
Numerator for basic and diluted earnings per share – Net income available to common shareholders	$	98,275	$	110,227	$	188,730	$	202,680
Denominator:
Denominator for basic earnings per share – weighted average shares outstanding		54,460		55,640		54,617		55,788
Effect of dilutive securities – Employee stock options and restricted stock awards		1,644		1,670		1,717		1,822
Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions		56,104		57,310		56,334		57,610
Basic earnings per common share	$	1.80	$	1.98	$	3.46	$	3.63
Diluted earnings per common share and common share equivalents	$	1.75	$	1.92	$	3.35	$	3.52

Options to purchase shares of common stock that were outstanding for the three months and six months ended June 30, 2023, and 2022, 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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Weighted average anti-dilutive stock options		1,133		1,020		993		761