Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

To calculate diluted EPS, basic EPS is adjusted to include the effect of potentially dilutive stock options outstanding. The table below shows our basic and diluted EPS calculations.

	Three Months Ended March 31,
	2021		2020
	(Dollars in thousands, except per share amounts)
Numerator
Net income	$	110,690	$	36,760
Less: distributed earnings allocated to participating securities	(158)		(135)
Less: undistributed earnings allocated to participating securities	(463)		(96)
Net income attributable to common stockholders (numerator for basic earnings per share)	110,069		36,529
Add back: undistributed earnings allocated to participating securities	463		96
Less: undistributed earnings reallocated to participating securities	(447)		(93)
Numerator for diluted earnings per share under two class method	$	110,085	$	36,532
Denominator
Weighted-average common shares outstanding	69,790,927		67,490,537
Add: dilutive effect of stock options	2,367,394		2,011,629
Add: dilutive effect of performance share units	629,856		623,557
Denominator for diluted earnings per share under two class method	72,788,177		70,125,723
Basic Earnings Per Common Share	$	1.58	$	0.54
Diluted Earnings Per Common Share	$	1.51	$	0.52