| 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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2024 |
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2023 |
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2024 |
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2023 |
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Numerator: |
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Net income available to common shareholders |
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$ |
86,998 |
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$ |
77,036 |
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$ |
176,068 |
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$ |
118,167 |
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Denominator: |
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Basic weighted average shares outstanding |
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108,693,887 |
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108,770,204 |
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108,667,028 |
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108,771,077 |
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Effect of dilutive securities: |
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Stock appreciation rights and options |
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54,233 |
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67,479 |
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62,718 |
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68,742 |
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Restricted stock |
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62,176 |
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33,757 |
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73,335 |
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|
54,029 |
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Diluted weighted average shares outstanding |
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108,810,296 |
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108,871,440 |
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108,803,081 |
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108,893,848 |
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Basic earnings per share |
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$ |
0.80 |
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$ |
0.71 |
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$ |
1.62 |
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$ |
1.09 |
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Diluted earnings per share |
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$ |
0.80 |
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$ |
0.71 |
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$ |
1.62 |
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$ |
1.09 |
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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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2024 |
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2023 |
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2024 |
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2023 |
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Stock appreciation rights |
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73,050 |
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91,402 |
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64,091 |
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100,076 |
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Restricted stock |
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— |
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101,722 |
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24,299 |
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104,646 |
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