| Computation of Basic and Diluted Earnings Per Share |
The following table sets forth the computation of basic and diluted earnings per share (in thousands, except share and per share data):
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Numerator: |
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Net income available to common shareholders |
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$ |
61,876 |
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$ |
75,909 |
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$ |
123,279 |
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$ |
136,343 |
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Denominator: |
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Basic weighted average shares outstanding |
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102,314,156 |
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107,227,128 |
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103,678,673 |
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107,204,024 |
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Effect of dilutive securities: |
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Stock appreciation rights and options |
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27,156 |
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27,256 |
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21,078 |
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30,900 |
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Restricted stock |
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43,910 |
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41,819 |
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51,536 |
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|
55,348 |
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Diluted weighted average shares outstanding |
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102,385,222 |
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107,296,203 |
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103,751,287 |
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107,290,272 |
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Basic earnings per share |
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$ |
0.60 |
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$ |
0.71 |
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$ |
1.19 |
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$ |
1.27 |
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Diluted earnings per share |
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$ |
0.60 |
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$ |
0.71 |
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$ |
1.19 |
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$ |
1.27 |
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| Antidilutive Securities Excluded from Computation of Earnings Per Share |
The computation of diluted earnings per share excludes the following potentially dilutive securities because the effect would be anti-dilutive:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Stock appreciation rights |
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160,044 |
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149,278 |
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160,044 |
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139,174 |
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Restricted stock |
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48,406 |
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|
92,201 |
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|
111,708 |
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|
92,498 |
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