Basic earnings per share is computed by dividing net income, after the deduction of preferred stock dividends and undistributed earnings allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted earnings per share assumes the issuance of common stock for all potentially dilutive share equivalents outstanding not classified as participating securities. Participating securities are defined as unvested stock-based compensation awards that contain nonforfeitable rights to dividends.


	Three Months Ended March 31,
(In thousands, except per share values)		2026		2025
Net income		$	71,269	$	59,605
Preferred stock dividends		(10)		(10)
Net income attributable to common equity		71,259		59,595
Dividends and undistributed earnings allocated to participating securities		(7)		(5)
Net income attributable to common shareholders		$	71,252	$	59,590

Basic weighted-average shares outstanding		38,859		39,334
Stock-based compensation awards		127		167
Diluted weighted-average shares outstanding		38,986		39,501
Antidilutive shares		—		—
Earnings per share:
Basic		$	1.83	$	1.51
Diluted		$	1.83	$	1.51