Stockholders’ Equity and Earnings Per Share

12 Months Ended

Dec. 31, 2021

Stockholders’ Equity and Earnings Per Share

The following table presents the basic and diluted EPS calculations for the years ended December 31, 2021, 2020 and 2019. For more information on the calculation of EPS, see Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Earnings Per Share to the Consolidated Financial Statements in this Form 10-K.



($ and shares in thousands, except per share data)	Year Ended December 31,
	2021		2020		2019
Basic:
Net income available to common stockholders	$	872,981	$	567,797	$	674,035

Basic weighted-average number of shares outstanding	141,826		142,336		145,497
Basic EPS	$	6.16	$	3.99	$	4.63
Diluted:
Net income available to common stockholders	$	872,981	$	567,797	$	674,035

Basic weighted-average number of shares outstanding	141,826		142,336		145,497
Diluted potential common shares (1)	1,314		655		682
Diluted weighted-average number of shares outstanding (1)	143,140		142,991		146,179
Diluted EPS	$	6.10	$	3.97	$	4.61

(1)Includes dilutive shares from RSUs for the years ended December 31, 2021, 2020 and 2019.

Shares are excluded from the computation of EPS when their inclusion has an anti-dilutive effect on EPS. For the years ended December 31, 2021, 2020 and 2019, 6 thousand, 134 thousand and 15 thousand weighted-average shares of anti-dilutive RSUs, respectively, were excluded from the diluted EPS computation.

Stock Repurchase Program — In 2020, the Company’s Board of Directors authorized a stock repurchase program to buy back up to $500.0 million of the Company’s common stock, and the Company repurchased 4,471,682 shares at an average price of $32.64 per share, for a total cost of $146.0 million. The Company did not repurchase any shares during the remainder of 2020 and during 2021.