Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.23.1
EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHAREThe Company reports both basic and diluted earnings per share. Basic earnings per share is computed by dividing net income available to participating common stockholders by the weighted average number of participating common shares outstanding for the period. Diluted earnings per share is calculated by dividing the net income available to participating common shareholders by the diluted weighted average number of shares outstanding for the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive equity.
A reconciliation of weighted average shares outstanding is as follows (in thousands):
Three Months Ended
March 31,
2023 2022
Weighted-average outstanding common shares 490,209 489,616
Add participating securities:
Weighted-average time-lapse restricted awards 2,307 2,597
Total weighted-average shares outstanding - basic 492,516 492,213
Dilutive effect of restricted stock units and PSUs 185 112
Weighted-average shares outstanding - diluted 492,701 492,325