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Earnings Per Share ("EPS") (Tables)
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2022 and 2021 (in thousands, except per share data):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Net income

 

$

151,169

 

 

$

192,376

 

 

$

485,534

 

 

$

563,468

 

Preferred dividends

 

 

9,320

 

 

 

9,689

 

 

 

27,961

 

 

 

26,267

 

Net income available to common shareholders

 

$

141,849

 

 

$

182,687

 

 

$

457,573

 

 

$

537,201

 

Shares for basic and diluted calculation:

 

 

 

 

 

 

 

 

 

 

 

 

Average shares used in basic computation

 

 

108,767

 

 

 

107,379

 

 

 

109,017

 

 

 

107,655

 

Dilutive effect of stock options and units (1)

 

 

8,451

 

 

 

11,096

 

 

 

8,632

 

 

 

10,700

 

Average shares used in diluted computation

 

 

117,218

 

 

 

118,475

 

 

 

117,649

 

 

 

118,355

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.30

 

 

$

1.70

 

 

$

4.20

 

 

$

4.99

 

Diluted

 

$

1.21

 

 

$

1.54

 

 

$

3.89

 

 

$

4.54

 

 

(1)
Diluted earnings per share is computed on the basis of the weighted-average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Diluted earnings per share include units.