Earnings per share

9 Months Ended

Sep. 30, 2024

Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings per share is computed by dividing net income by the total of the weighted average number of shares of common stock outstanding during the applicable period, plus the effect of non-vested performance share awards and restricted stock units. Net income was the same for both the basic and diluted earnings per share calculations. A reconciliation of the weighted average common shares outstanding used in the basic and diluted earnings per share calculations follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(In thousands, except per share amounts)
Weighted average common shares outstanding - basic	203,888		203,638		203,852		203,633
Effect of dilutive performance share awards and restricted stock units	790		248		599		258
Weighted average common shares outstanding - diluted	204,678		203,886		204,451		203,891
Earnings per share - basic:
Income from continuing operations	$	.31	$	.38	$	1.10	$	1.52
Discontinued operations, net of tax	.01		(.01)		.01		(.32)
Earnings per share - basic	$	.32	$	.37	$	1.11	$	1.20
Earnings per share - diluted:
Income from continuing operations	$	.31	$	.38	$	1.10	$	1.52
Discontinued operations, net of tax	.01		(.01)		.01		(.32)
Earnings per share - diluted	$	.32	$	.37	$	1.11	$	1.20
Shares excluded from the calculation of diluted earnings per share	—		—		—		—
Dividends declared per common share	$	.1300	$	.1250	$	.3800	$	.5700