Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Earnings Per Share, Basic and Diluted

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)		2024		2023		2022
Basic earnings per share:
Net income		$	762,994	$	712,949	$	865,349
Weighted average common shares outstanding - basic		261,684		283,605		305,847
Basic earnings per share		$	2.92	$	2.51	$	2.83
Diluted earnings per share:
Net Income		$	762,994	$	712,949	$	865,349
Interest expense, net of tax (1):
9% Debentures		—		1,026		3,228
Diluted income available to common shareholders		$	762,994	$	713,975	$	868,577
Weighted-average shares - basic		261,684		283,605		305,847
Effect of dilutive securities:
Unvested restricted stock units		2,311		2,427		1,917
9% Debentures		—		1,123		3,465
Weighted average common shares outstanding - diluted		263,995		287,155		311,229
Diluted income per share		$	2.89	$	2.49	$	2.79

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