Earnings Per Share ("EPS") (Tables)

9 Months Ended

Sep. 30, 2026

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2026 and 2025 (in thousands, except per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Net income	$	234,143	$	211,371	$	712,039	$	419,418
Preferred dividends		9,320		9,320		27,961		27,961
Net income available to common shareholders	$	224,823	$	202,051	$	684,078	$	391,457
Shares for basic and diluted calculation:
Average shares used in basic computation		151,956		154,679		153,889		155,603
Dilutive effect of stock options and units (1)		8,189		10,408		7,855		9,274
Average shares used in diluted computation		160,145		165,087		161,744		164,877
Earnings per common share:
Basic	$	1.48	$	1.31	$	4.45	$	2.52
Diluted	$	1.40	$	1.22	$	4.23	$	2.37

(1)

Diluted earnings per share is computed on the basis of the weighted-average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Diluted earnings per share include units.