Earnings Per Share ("EPS")

6 Months Ended

Jun. 30, 2021

EARNINGS PER SHARE (“EPS”)

Basic EPS is computed by dividing reported net income available to common stockholders by weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing reported net income available to common stockholders by the weighted average common shares and all potential dilutive common shares outstanding during the period.

The computation of earnings per share is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands, except per share data)	2021		2020		2021		2020
Net income available to common stockholders	$	74,911	$	58,789	$	142,318	$	136,012

Average common shares outstanding	108,362		108,982		108,286		110,936
Average potential dilutive common shares	460		148		460		148
Average diluted common shares	108,822		109,130		108,746		111,084

Basic earnings per share	$	0.69	$	0.54	$	1.31	$	1.23
Diluted earnings per share	$	0.69	$	0.54	$	1.31	$	1.22

There were no stock options excluded from the earnings per share calculation for the three and six months ended June 30, 2021 due to the average market price exceeding the related stock option exercise price. There were approximately 653,718 stock options excluded from the earnings per share calculation for the three and six months ended June 30, 2020 due to the related stock option exercise price exceeding the average market price.