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Earnings Per Share ("EPS") (Tables)
 3 Months Ended
Mar. 31, 2025
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 months ended March 31, 2025 and 2024 (in thousands, except per share data):

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Net income

 

$

52,992

 

 

$

163,575

 

Preferred dividends

 

 

9,320

 

 

 

9,320

 

Net income available to common shareholders

 

$

43,672

 

 

$

154,255

 

Shares for basic and diluted calculation:

 

 

 

 

 

 

Average shares used in basic computation

 

 

104,764

 

 

 

104,275

 

Dilutive effect of stock options and units (1)

 

 

5,871

 

 

 

5,710

 

Average shares used in diluted computation

 

 

110,635

 

 

 

109,985

 

Earnings per common share:

 

 

 

 

 

 

Basic

 

$

0.42

 

 

$

1.48

 

Diluted

 

$

0.39

 

 

$

1.40

 

(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.