The computation of earnings per share for the three months ended March 31, 2026 and 2025 are (in thousands, except per share and footnote amounts): | | | | | | | | | For the Three Months Ended March 31, | | | 2026 | | 2025 | Basic EPS | | | | | | | Numerator | | | | | | | Net income | | $ | 37,634 | | $ | 64,227 | Less: Earnings allocated to participating securities | | | 3,838 | | | — | Net income available to common stockholders | | | 33,797 | | | 64,227 | | | | | | | | Denominator | | | | | | | Weighted average shares outstanding | | | 55,589 | | | — | Basic EPS | | $ | 0.61 | | $ | — | | | | | | | | Diluted EPS | | | | | | | Numerator | | | | | | | Net income available to common stockholders | | $ | 33,797 | | $ | 64,227 | Reallocation of earnings from participating securities | | | — | | | — | Net income available to common stockholders for diluted EPS | | $ | 33,797 | | $ | 64,227 | | | | | | | | Denominator | | | | | | | Weighted average shares outstanding | | | 55,589 | | | — | Weighted average effect of dilutive securities: | | | | | | | Options(1) | | | 3 | | | — | Nonvested restricted stock | | | — | | | — | Number of shares used for diluted EPS computation | | | 55,592 | | | — | Diluted EPS | | $ | 0.61 | | $ | — |
| (1) | Options outstanding of 484,322 at March 31, 2026 were determined to be antidilutive and excluded from the dilutive EPS computation. |
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