Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Calculation of Earnings (Loss) Per Share

Table 4.1 reconciles basic and diluted EPS amounts:

Earnings per share
Table	4.1
		Years Ended December 31,
(In thousands, except per share data)		2023		2022		2021
Basic earnings per share:
Net income		$	712,949	$	865,349	$	634,983
Weighted average common shares outstanding - basic		283,605		305,847		334,330
Basic earnings per share		$	2.51	$	2.83	$	1.90
Diluted earnings per share:
Net Income		$	712,949	$	865,349	$	634,983
Interest expense, net of tax (1):
9% Debentures		1,026		3,228		14,343
Diluted income available to common shareholders		$	713,975	$	868,577	$	649,326
Weighted-average shares - basic		283,605		305,847		334,330
Effect of dilutive securities:
Unvested restricted stock units		2,427		1,917		1,782
9% Debentures		1,123		3,465		15,196
Weighted average common shares outstanding - diluted		287,155		311,229		351,308
Diluted income per share		$	2.49	$	2.79	$	1.85

(1) Interest expense has been tax effected at a rate of 21%.