Earnings per share ("EPS")

12 Months Ended

Dec. 31, 2023

Earnings per share ("EPS") [Abstract]

Earnings per share ("EPS")

Note 5 – Earnings per share (“EPS”)

The computation of basic earnings per share is based on the weighted average number of common shares outstanding during the period. The computation of diluted earnings per share assumes the exercise of all dilutive restricted shares using the treasury stock method.

The components of the calculation of basic EPS and diluted EPS are as follows:

(Dollars in thousands)	2023		2022		2021
Profit/(loss) for the period used for calculation of EPS - basic	$	161,353	$	61,520	$	(11,521	)
Profit/(loss) for the period used for calculation of EPS - dilutive	$	161,353	$	61,520	$	(11,521	)
Basic earnings per share:
Weighted average shares outstanding - basic		162,178,499		164,692,954		169,089,325
Diluted earnings per share:
Weighted average shares outstanding - basic		162,178,499		164,692,954		169,089,325
Dilutive equity awards 1		178,236		157,137		-
Weighted average shares outstanding - dilutive		162,356,735		164,850,091		169,089,325

¹
In 2023, 2022 and 2021, equity awards of nil, nil and 77,546, respectively, were excluded from the calculation of the dilutive weighted average shares outstanding due to being antidilutive.