| Earnings per Share |
EARNINGS PER SHARE Basic earnings per share is computed by dividing net income available to common stockholders by the weighted-average number of shares of common stock outstanding during the period. The computation of diluted earnings per share is similar to the computation of basic earnings per share, except that the denominator is increased to include the number of additional shares of common stock that would have been outstanding if dilutive potential shares of common stock had been issued. The calculation of basic and diluted earnings per share for the periods noted was as follows (in thousands, except per share data): | | | | | | | | | | | | | | | | Three Months Ended June 30, | Six Months Ended June 30, | | | 2025 | 2024 | 2025 | 2024 | | Net income | $ | 273,249 | | $ | 243,800 | | $ | 591,822 | | $ | 532,564 | | | | | | | | Basic weighted-average number of shares outstanding | 79,984 | | 74,725 | | 77,307 | | 74,644 | | | Dilutive common share equivalents | 389 | | 823 | | 453 | | 885 | | | Diluted weighted-average number of shares outstanding | 80,373 | | 75,548 | | 77,760 | | 75,529 | | | | | | | | Basic earnings per share | $ | 3.42 | | $ | 3.26 | | $ | 7.66 | | $ | 7.13 | | | Diluted earnings per share | $ | 3.40 | | $ | 3.23 | | $ | 7.61 | | $ | 7.05 | |
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