Note 3 - Earnings Per Share

9 Months Ended

Sep. 30, 2024

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 information):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator:
Numerator for basic and diluted earnings per share – Net income available to common shareholders	$	79,132	$	80,278	$	229,401	$	269,008
Denominator:
Denominator for basic earnings per share – weighted average shares outstanding		79,216		81,229		78,878		81,629
Effect of dilutive securities–
Employee and director stock options and restricted share awards		2,668		2,758		2,729		2,622
Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions		81,884		83,987		81,607		84,251
Basic earnings per common share	$	1.00	$	0.99	$	2.91	$	3.30
Diluted earnings per common share and common share equivalents	$	0.97	$	0.96	$	2.81	$	3.19

Options to purchase shares of common stock that were outstanding for the three months and nine months ended September 30, 2024 and 2023 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,
	2024		2023		2024		2023
Weighted average anti-dilutive options		573		1,079		583		1,353