v3.26.1
Stockholders' Equity and Earnings Per Share
 3 Months Ended
Mar. 31, 2026
Stockholders' Equity and Earnings Per Share [Abstract]  
Stockholders' Equity and Earnings Per Share Stockholders’ Equity and Earnings Per Share
The following table presents the basic and diluted EPS calculations for the three months ended March 31, 2026 and 2025. For more information on the calculation of EPS, see Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Earnings Per Share to the Consolidated Financial Statements in the Company’s 2025 Form 10-K.
Three Months Ended March 31,
($ and shares in thousands, except per share data)20262025
Basic:
Net income$357,796 $290,270 
Basic weighted-average number of shares outstanding138,054 
(1)
138,201 
Basic EPS$2.59 $2.10 
Diluted:
Net income$357,796 $290,270 
Less: Fair value changes of liability-classified equity contracts, net of tax (2)
(495)— 
Net income, diluted$357,301 $290,270 
Basic weighted-average number of shares outstanding138,054 
(1)
138,201 
Add: Dilutive impact of unvested RSUs865 1,090 
Diluted weighted-average number of shares outstanding138,919 139,291 
Diluted EPS$2.57 $2.08 
(1)Includes retirement-eligible employees’ awards.
(2)Applied blended statutory tax rate of 28.02% for the three months ended March 31, 2026.

Approximately 113 thousand and 91 thousand weighted-average shares of anti-dilutive RSUs were excluded from the diluted EPS computations for the three months ended March 31, 2026 and 2025, respectively.

Stock Repurchase Program — On January 22, 2025, the Company’s Board of Directors authorized a stock repurchase of up to $300 million of the Company’s common stock. The Company repurchased $99 million and $85 million of its common stock for the three months ended March 31, 2026 and 2025, respectively.