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Earnings Per Share (Tables)
12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Summary of the Computation of Basic and Diluted Earning Per Common Share

The computation of basic and diluted earnings per common share for 2023, 2022 and 2021 is as follows:

 

 

 

 

2023

 

 

2022

 

 

2021

 

Net income available to common stockholders – basic and diluted

 

$

519,118

 

 

$

452,263

 

 

$

510,467

 

Weighted average number of common shares

 

 

35,081,779

 

 

 

35,724,325

 

 

 

37,198,292

 

Earnings per common share – basic

 

$

14.80

 

 

$

12.66

 

 

$

13.72

 

Diluted weighted average number of common shares

 

 

35,401,313

 

 

 

36,093,754

 

 

 

37,691,351

 

Earnings per common share – diluted

 

$

14.66

 

 

$

12.53

 

 

$

13.54

 

Schedule of Denominators Used in Calculating Earning Per Common Share

The denominators used in calculating diluted earnings per share for common stock for 2023, 2022 and 2021 do not include the following because the effect of including these shares would be anti-dilutive or because the performance targets for these awards had not yet been met:

 

 

 

2023

 

 

2022

 

 

2021

 

Anti-dilutive shares underlying stock-based awards

 

 

 

 

 

 

 

 

 

   Stock options

 

 

216,128

 

 

 

115,187

 

 

 

41,215

 

   Restricted stock awards and units

 

 

7,060

 

 

 

1,470

 

 

 

1,010

 

Performance condition not met

 

 

 

 

 

 

 

 

 

   Restricted stock awards and units

 

 

44,750

 

 

 

22,353

 

 

 

29,704