| Earnings Per Share |
17. EARNINGS PER SHARE The reconciliation of the numerator and denominator of basic earnings per share with that of diluted earnings per share is presented as follows:
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Three Months Ended
September 30 |
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Nine Months Ended
September 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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| Distributed earnings allocated to common stock |
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$ |
51,650 |
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$ |
52,119 |
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$ |
157,377 |
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$ |
158,032 |
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| Undistributed earnings allocated to common stock |
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76,910 |
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78,336 |
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226,416 |
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176,996 |
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| Net earnings allocated to common shareholders |
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$ |
128,560 |
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$ |
130,455 |
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$ |
383,793 |
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$ |
335,028 |
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| Average common shares outstanding |
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136,426,622 |
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141,547,684 |
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137,876,209 |
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141,901,752 |
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| Effect of dilutive common stock-based awards |
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604,678 |
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412,924 |
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495,096 |
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308,058 |
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| Average diluted shares outstanding |
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137,031,300 |
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141,960,608 |
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138,371,305 |
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142,209,810 |
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| Earnings per basic common share |
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$ |
0.94 |
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$ |
0.92 |
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$ |
2.78 |
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$ |
2.36 |
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| Earnings per diluted common share |
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$ |
0.94 |
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$ |
0.92 |
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$ |
2.77 |
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$ |
2.36 |
| Antidilutive outstanding common stock-based awards of 2,122 and 553,415 for the three months and nine months ended September 30, 2026, respectively, were excluded from the earnings per diluted common share calculation as compared to 564,090 and 996,626 for the three months and nine months ended September 30, 2025, respectively.
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