Earnings (Loss) per Share

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

Earnings (Loss) per Share

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 September 30,				Nine Months Ended September 30,
(In thousands, except per share values)	2025		2024		2025		2024
Net income	$	69,613	$	66,648	$	191,991	$	197,021
Preferred stock dividends	(10)		(10)		(30)		(30)
Net income attributable to common equity	69,603		66,638		191,961		196,991
Dividends and undistributed earnings allocated to participating securities	(6)		(6)		(18)		(19)
Net income attributable to common shareholders	69,597		66,632		191,943		196,972
Basic weighted-average shares outstanding	39,168		39,362		39,253		39,370
Stock-based compensation awards	112		133		127		160
Diluted weighted-average shares outstanding	39,280		39,495		39,380		39,530
Antidilutive shares	—		—		—		—
Earnings per share:
Basic	$	1.78	$	1.69	$	4.89	$	5.00
Diluted	$	1.77	$	1.69	$	4.87	$	4.98