EARNINGS PER COMMON SHARE Income per common share is calculated for the years ended December 31, 2022, 2021 and 2020 as follows:
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(thousands except per share data) |
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2022 |
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2021 |
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2020 |
Numerator: |
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Earnings for basic per share calculation |
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$ |
328,196
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$ |
224,915 |
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$ |
97,061 |
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Effect of interest on potentially dilutive convertible notes, net of tax |
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$ |
1,927
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$ |
— |
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$ |
— |
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Earnings for dilutive per share calculation |
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$ |
330,123
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$ |
224,915 |
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$ |
97,061 |
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Denominator: |
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Weighted average common shares outstanding - basic |
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22,140
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22,780 |
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22,730 |
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Weighted average impact of potentially dilutive convertible notes |
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2,059
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— |
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— |
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Effect of potentially dilutive securities |
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272
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575 |
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357 |
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Weighted average common shares outstanding - diluted |
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24,471
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23,355 |
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23,087 |
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Earnings per common share: |
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Basic earnings per common share |
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$ |
14.82
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$ |
9.87 |
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$ |
4.27 |
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Diluted earnings per common share |
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$ |
13.49
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$ |
9.63 |
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$ |
4.20 |
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Cash dividends paid per common share |
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$ |
1.44
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$ |
1.17 |
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$ |
1.03 |
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The impact on diluted earnings per common share from antidilutive securities excluded from the calculation was immaterial for all periods presented.
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