Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.24.3
EARNINGS PER SHARE
9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
The 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
September 30,
Nine Months Ended
September 30,
2024 2023 2024 2023
Weighted-average outstanding common shares 482,219 488,304 482,082 489,467
Add participating securities:
Weighted-average time-lapse restricted awards 2,098 2,471 2,149 2,513
Total weighted-average shares outstanding – basic 484,317 490,775 484,231 491,980
Dilutive effect of restricted stock units and PSUs 42 190 39 178
Weighted-average shares outstanding – diluted 484,359 490,965 484,270 492,158