EARNINGS PER COMMON SHARE

9 Months Ended

Sep. 30, 2023

EARNINGS PER COMMON SHARE [Abstract]

EARNINGS PER COMMON SHARE

NOTE 12 – EARNINGS PER COMMON

.

SHARE

The calculations of earnings per common share for the quarters and nine-month periods ended September 30, 2023 and 2022 are as

follows:

Quarter Ended

Nine-Month Period Ended

September 30,

September 30,

2023

2022

2023

2022

(In thousands, except per share information)

Net income attributable to common stockholders

$

82,022

$

74,603

$

223,375

$

231,898

Weighted-Average Shares:

 Average common shares outstanding

176,358

187,236

178,486

193,217

 Average potential dilutive common shares 

604

1,083

658

1,151

 Average common shares outstanding - assuming dilution

176,962

188,319

179,144

194,368

Earnings per common share:

Basic 

$

0.47

$

0.40

$

1.25

$

1.20

Diluted 

$

0.46

$

0.40

$

1.25

$

1.19

Earnings per common share is computed by dividing net income attributable to common stockholders by the weighted-average

number of common shares issued and outstanding. Net income attributable to common stockholders represents net income adjusted for

any preferred stock dividends, including any dividends declared but not yet paid, and any cumulative dividends related to the current

dividend period that have not been declared as of the end of the period. Basic weighted-average common shares outstanding exclude

unvested shares of restricted stock that do not contain non-forfeitable dividend rights.

Potential dilutive common shares consist of unvested shares of restricted stock and performance units (if any of the performance

conditions are met as of the end of the reporting period), that do not contain non-forfeitable dividend or dividend equivalent rights

using the treasury stock method. This method assumes that proceeds equal to the amount of compensation cost attributable to future

services is used to repurchase shares on the open market at the average market price for the period. The difference between the

number of potential dilutive shares issued and the shares purchased is added as incremental shares to the actual number of shares

outstanding to compute diluted earnings per share. Unvested shares of restricted stock outstanding during the period that result in

lower potentially dilutive shares issued than shares purchased under the treasury stock method are not included in the computation of

dilutive earnings per share since their inclusion would have an antidilutive effect on earnings per share. There were

no

 antidilutive

shares of common stock during the quarters and nine-month periods ended September 30, 2023 and 2022.