Net Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2019

Net Earnings Per Share

Schedule of reconciliation of basic and diluted net income per share

The following table sets forth the reconciliation of basic and diluted earnings per share (in thousands, except share and per share amounts):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Basic earnings per share:
Numerator
Net income	$	128,305	$	115,211	$	266,399	$	225,862
Preferred stock dividends		(4,271)		—		(4,271)		—
Net income available to common stockholders	$	124,034	$	115,211	$	262,128	$	225,862
Denominator
Weighted-average common shares outstanding		111,371,790		104,003,960		111,196,011		103,876,647
Basic earnings per share	$	1.11	$	1.11	$	2.36	$	2.17
Diluted earnings per share:
Numerator
Net income	$	128,305	$	115,211	$	266,399	$	225,862
Preferred stock dividends		(4,271)		—		(4,271)		—
Assumed conversion of convertible senior notes		—		1,735		—		3,474
Net income available to common stockholders plus assumed conversions	$	124,034	$	116,946	$	262,128	$	229,336
Denominator
Number of shares used in basic computation		111,371,790		104,003,960		111,196,011		103,876,647
Weighted-average effect of dilutive securities		1,435,233		8,420,622		1,402,612		8,449,859
Number of shares used in per share computation		112,807,023		112,424,582		112,598,623		112,326,506
Diluted earnings per share	$	1.10	$	1.04	$	2.33	$	2.04