Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.22.2.2
Earnings Per Share
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic earnings per share is computed by dividing net income by the weighted average number of shares outstanding for the periods presented. The calculation of diluted earnings per share includes the potential dilutive impact of non-vested restricted stock units and unexercised warrants outstanding during the periods presented, as calculated using the treasury stock method, unless their effect is anti-dilutive.
The following table sets forth the computation of basic and diluted earnings per share:
Three Months Ended September 30, Nine Months Ended September 30,
  2022 2021 2022 2021
(In thousands, except per share amounts)
Net Income $549,603  $171,902  $937,349  $79,800 
Basic weighted average common shares outstanding 61,703  46,290  61,624  45,063 
Dilutive impact of restricted stock units 167  305  303  244 
Dilutive impact of warrants —  501  —  1,812 
Diluted weighted average common shares outstanding 61,870  47,096  61,927  47,119 
       
Net Income Per Common Share
Basic $8.91  $3.71  $15.21  $1.77 
Diluted $8.88  $3.65  $15.14  $1.69 
       
Restricted stock units (1)
100  8  28  28 
Warrants (1)
481  481  416  481 
(1)    Shares excluded from the diluted earnings per share calculation because their effect would be anti-dilutive.