| Schedule of Weighted Average Number of Shares |
The following table sets forth the computation of basic and diluted earnings per share under the two-class method (in thousands, except per share data):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year Ended December 31, |
2024 |
|
2023 |
|
2022 |
| Net income available to stockholders |
$ |
466,379
|
|
|
$ |
434,957 |
|
|
$ |
368,599 |
|
| Less dividends paid: |
|
|
|
|
|
| Common stock |
(296,818) |
|
|
(263,016) |
|
|
(210,509) |
|
| Time-lapse restricted awards |
(1,313) |
|
|
(1,332) |
|
|
(1,109) |
|
| Undistributed earnings for the period |
$ |
168,248
|
|
|
$ |
170,609 |
|
|
$ |
156,981 |
|
| Allocation of undistributed earnings: |
|
|
|
|
|
| Common stock |
$ |
167,507
|
|
|
$ |
169,687 |
|
|
$ |
156,123 |
|
| Time-lapse restricted awards |
741
|
|
|
859 |
|
|
823 |
|
| Restricted stock units |
—
|
|
|
63 |
|
|
35 |
|
| Weighted-average shares outstanding: |
|
|
|
|
|
| Weighted-average outstanding common shares |
482,117 |
|
487,480 |
|
489,719 |
| Add participating securities: |
|
|
|
|
|
| Weighted-average time-lapse restricted awards |
2,132 |
|
2,469 |
|
2,581 |
| Total weighted-average shares outstanding – basic |
484,249 |
|
489,949 |
|
492,300 |
| Dilutive effect of restricted stock units |
46 |
|
181 |
|
113 |
| Total weighted-average shares outstanding – diluted |
484,295 |
|
490,130 |
|
492,413 |
|
|
|
|
|
|
| Basic earnings per share: |
|
|
|
|
|
| Common stock: |
|
|
|
|
|
| Distributed earnings |
$ |
0.62
|
|
|
$ |
0.54 |
|
|
$ |
0.43 |
|
| Undistributed earnings |
0.34
|
|
|
0.35 |
|
|
0.32 |
|
|
$ |
0.96
|
|
|
$ |
0.89 |
|
|
$ |
0.75 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted earnings per share: |
|
|
|
|
|
| Common stock: |
|
|
|
|
|
| Distributed earnings |
$ |
0.62
|
|
|
$ |
0.54 |
|
|
$ |
0.43 |
|
| Undistributed earnings |
0.34
|
|
|
0.35 |
|
|
0.32 |
|
|
$ |
0.96
|
|
|
$ |
0.89 |
|
|
$ |
0.75 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|