EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

15. EARNINGS PER SHARE

The Corporation is required to report both basic earnings per share (EPS), based on the weighted-average number of common shares outstanding, and diluted earnings per share, based on the basic EPS adjusted for all potentially dilutive shares issuable.

As of December 31, 2023, 2022 and 2021, there were no anti-dilutive equity-based awards excluded from the calculation of diluted earnings per share.

Earnings per share calculations for the years ended December 31, 2023, 2022, and 2021, were as follows:


(In thousands, except per share data)	Net Earnings		Weighted- Average Shares Outstanding	Earnings per Share
2023
Basic earnings per share	$	354,509	38,283	$	9.26
Dilutive effect of deferred stock compensation			246
Diluted earnings per share	$	354,509	38,529	$	9.20
2022
Basic earnings per share	$	294,348	38,386	$	7.67
Dilutive effect of deferred stock compensation			263
Diluted earnings per share	$	294,348	38,649	$	7.62
2021
Basic earnings per share	$	262,829	40,417	$	6.50
Dilutive effect of deferred stock compensation			185
Diluted earnings per share	$	262,829	40,602	$	6.47