Earnings Per Common Share

12 Months Ended

Dec. 31, 2023

Earnings Per Common Share

Earnings Per Common Share

Note 14—Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per common share:

	Year Ended December 31,
(Dollars and shares in thousands, except for per share amounts)	2023		2022		2021
Basic earnings per common share:
Net income	$	494,308	$	496,049	$	475,543
Weighted-average basic common shares		76,051		74,551		70,393
Basic earnings per common share	$	6.50	$	6.65	$	6.76
Diluted earnings per common share:
Net income	$	494,308	$	496,049	$	475,543
Weighted-average basic common shares		76,051		74,551		70,393
Effect of dilutive securities		429		630		496
Weighted-average dilutive shares		76,480		75,181		70,889
Diluted earnings per common share	$	6.46	$	6.60	$	6.71

The calculation of diluted earnings per common share excludes outstanding stock options for which the results would have been antidilutive under the treasury stock method as follows:

	Year Ended December 31,
	2023					2022					2021
Number of shares					57,169					57,169					57,169
Range of exercise prices	$	87.30	to	$	91.35	$	87.30	to	$	91.35	$	87.30	to	$	91.35