Basic earnings per share (“EPS”) is calculated by dividing net income by the weighted average number of shares of common stock outstanding, including participating securities. Our participating securities are comprised of vested restricted stock and restricted stock units (“RSUs”) with non-forfeitable rights to dividends. Diluted EPS includes the components of basic EPS and also gives effect to dilutive common stock equivalents. The determination of whether components are dilutive is calculated independently for each period. We calculate diluted EPS using the treasury stock method which reflects the potential dilution that could occur if unvested RSUs result in the issuance of common stock.


Earnings Per Share
Table	4.1
		Three Months Ended June 30,				Six Months Ended June 30,
($ in thousands, except per share data)		2026		2025		2026		2025
Net income - basic and diluted		$	182,145	$	192,482	$	347,448	$	377,942
Basic weighted average common shares outstanding		209,923		236,333		213,012		240,218
Dilutive effect of unvested RSUs		1,022		1,638		1,536		1,991
Diluted weighted average common shares outstanding		210,945		237,971		214,548		242,209

Earnings per share:
Basic earnings per share		$	0.87	$	0.81	$	1.63	$	1.57
Diluted earnings per share		$	0.86	$	0.81	$	1.62	$	1.56