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Earnings per Share (Tables)
9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Reconciliation of Number of Shares Used in Calculating Basic and Diluted Earnings per Share

The following table reconciles the number of shares used in calculating basic and diluted earnings per share:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(Dollars in thousands, except per share amounts)

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Net income

 

$

60,336

 

 

$

33,700

 

 

$

121,081

 

 

$

74,865

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted-average shares outstanding

 

 

62,985,517

 

 

 

40,829,399

 

 

 

58,765,381

 

 

 

40,814,135

 

Incremental shares due to:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performance shares

 

 

269,998

 

 

 

378,149

 

 

 

262,648

 

 

 

331,082

 

Restricted stock units

 

 

37,535

 

 

 

42,909

 

 

 

32,736

 

 

 

37,578

 

Stock portion of earnings and profits distribution

 

 

1,428,607

 

 

 

 

 

 

481,435

 

 

 

 

Diluted weighted-average shares outstanding

 

 

64,721,657

 

 

 

41,250,457

 

 

 

59,542,200

 

 

 

41,182,795

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per share

 

$

0.96

 

 

$

0.83

 

 

$

2.06

 

 

$

1.83

 

Diluted net income per share

 

$

0.93

 

 

$

0.82

 

 

$

2.03

 

 

$

1.82