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Earnings Per Share ("EPS") (Tables)
 12 Months Ended
Dec. 31, 2024
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 years ended December 31, 2024, 2023, and 2022 (in thousands, except per share data):

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Net income

 

$

731,379

 

 

$

522,536

 

 

$

662,155

 

Preferred dividends

 

 

37,281

 

 

 

37,281

 

 

 

37,281

 

Net income available to common shareholders

 

$

694,098

 

 

$

485,255

 

 

$

624,874

 

Shares for basic and diluted calculation:

 

 

 

 

 

 

 

 

 

Average shares used in basic computation

 

 

104,066

 

 

 

106,661

 

 

 

108,848

 

Dilutive effect of stock options and units (1)

 

 

6,909

 

 

 

6,792

 

 

 

8,692

 

Average shares used in diluted computation

 

 

110,975

 

 

 

113,453

 

 

 

117,540

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

Basic

 

$

6.67

 

 

$

4.55

 

 

$

5.74

 

Diluted

 

$

6.25

 

 

$

4.28

 

 

$

5.32

 

(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.