Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Calculation of earnings (loss) per share

Table 6.1 reconciles the numerators and denominators used to calculate basic and diluted EPS.

Earnings per share
Table	6.1
		Three Months Ended March 31,
(In thousands, except per share data)		2024		2023
Basic earnings per share:
Net income		$	174,097	$	154,547
Weighted average common shares outstanding - basic		270,314		290,989
Basic earnings per share		$	0.64	$	0.53
Diluted earnings per share:
Net income		$	174,097	$	154,547
Interest expense, net of tax (1):
9% Debentures		—		375
Diluted income available to common shareholders		$	174,097	$	154,922
Weighted average common shares outstanding - basic		270,314		290,989
Effect of dilutive securities:
Unvested RSUs		2,794		2,079
9% Debentures		—		1,644
Weighted average common shares outstanding - diluted		273,108		294,712
Diluted earnings per share		$	0.64	$	0.53

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