Earnings (Loss) per Share

3 Months Ended

Mar. 31, 2025

Earnings per Share

Basic earnings per share is computed by dividing net income, after the deduction of preferred stock dividends and undistributed earnings allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted earnings per share assumes the issuance of common stock for all potentially dilutive share equivalents outstanding not classified as participating securities. Participating securities are defined as unvested stock-based compensation awards that contain nonforfeitable rights to dividends.


	Three Months Ended March 31,
(In thousands, except per share values)		2025		2024
Net income		$	59,605	$	58,139
Preferred stock dividends		(10)		(10)
Net income attributable to common equity		59,595		58,129
Dividends and undistributed earnings allocated to participating securities		(5)		(7)
Net income attributable to common shareholders		59,590		58,122

Basic weighted-average shares outstanding		39,334		39,360
Stock-based compensation awards		167		196
Diluted weighted-average shares outstanding		39,501		39,556
Antidilutive shares		—		—

Earnings per share:
Basic		$	1.51	$	1.48
Diluted		$	1.51	$	1.47