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  
EARNINGS PER SHARE

NOTE 14.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

Nine Months Ended

September 30, 

September 30, 

    

2022

    

2021

    

2022

    

2021

Weighted-average outstanding common shares

489,756

489,306

489,705

489,241

Add participating securities:

Weighted-average time-lapse restricted awards

2,560

2,763

2,580

2,817

Total weighted-average shares outstanding - basic

492,316

492,069

492,285

492,058

Dilutive effect of restricted stock units

114

113

Weighted-average shares outstanding - diluted

492,430

492,069

492,398

492,058