Equity and Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2023

Equity and Earnings Per Common Share

Schedule of weighted average shares outstanding

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands)	2022		2023		2022		2023
Basic weighted average number of shares outstanding		478,460		479,676		478,144		479,267
Add: Dilutive effect of RSUs		769		1,670		1,003		1,401
Add: Dilutive effect of PSUs		—		659		106		405
Add: Dilutive effect of Series A Preferred Stock		1,089		835		1,089		835
Diluted weighted average number of shares outstanding		480,318		482,840		480,342		481,908
Weighted average number of outstanding equity awards excluded from calculation of net income per share—diluted (1):
RSUs		2,685		—		1,662		—
PSUs		880		—		545		—

(1) The potential dilutive effects of these awards were excluded from the computation of net income per share—diluted because the inclusion of these awards would have been anti-dilutive.

Schedule of earnings per common share

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands, except per share amounts)	2022		2023		2022		2023
Net income	$	84,014		97,820		243,449		271,339
Less preferred stock dividends		(138)		(138)		(413)		(413)
Net income available to common shareholders	$	83,876		97,682		243,036		270,926
Net income per share–basic	$	0.18		0.20		0.51		0.57
Net income per share–diluted	$	0.17		0.20		0.51		0.56
Weighted average common shares outstanding–basic		478,460		479,676		478,144		479,267
Weighted average common shares outstanding–diluted		480,318		482,840		480,342		481,908