EARNINGS PER COMMON SHARE

3 Months Ended

Mar. 31, 2024

Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted EPS reflects the assumed conversion of all dilutive securities, including, when applicable, restricted stock units (“RSUs”), performance stock units (“PSUs”) and performance stock options (“PSOs”).

The following table presents the computation of basic and diluted EPS:


	Three Months Ended March 31,
(in thousands, except per share data)	2024		2023
Net income	$	255,954	$	238,728

Basic weighted average common shares outstanding	79,195		80,041
Effect of dilutive securities:
PSUs, RSUs and PSOs	313		441
Diluted weighted average common shares outstanding	79,508		80,482


Earnings per common share:
Basic	$	3.23	$	2.98
Diluted	$	3.22	$	2.97