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13. EARNINGS PER SHARE
Basic EPS is computed by dividing net income to common shareholders, after deducting dividends on preferred stock by the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the weighted average number of common shares outstanding during the period, including the effect of dilutive potential common shares outstanding attributable to stock awards.
The following table presents EPS from continuing operations, discontinued operations and total net income available to common shareholders for the three and nine months ended September 30, 2020 and 2019 (dollars in thousands except per share data):
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Three Months Ended |
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Nine Months Ended |
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September 30, |
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September 30, |
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2020 |
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2019 |
|
2020 |
|
2019 |
Net Income: |
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|
|
|
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|
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Income from continuing operations |
|
$ |
61,000 |
|
$ |
53,196 |
|
$ |
98,798 |
|
$ |
137,820 |
Income (loss) from discontinued operations |
|
|
— |
|
|
42 |
|
|
— |
|
|
(128) |
Net Income |
|
|
61,000 |
|
|
53,238 |
|
|
98,798 |
|
|
137,692 |
Preferred Stock Dividends |
|
|
2,691 |
|
|
— |
|
|
2,691 |
|
|
— |
Net income available to common shareholders |
|
$ |
58,309 |
|
$ |
53,238 |
|
$ |
96,107 |
|
$ |
137,692 |
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Weighted average shares outstanding, basic |
|
|
78,714 |
|
|
81,769 |
|
|
78,905 |
|
|
80,121 |
Dilutive effect of stock awards and warrants |
|
|
11 |
|
|
64 |
|
|
16 |
|
|
63 |
Weighted average shares outstanding, diluted |
|
|
78,725 |
|
|
81,833 |
|
|
78,921 |
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|
80,184 |
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Basic EPS: |
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|
|
|
|
|
|
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EPS from continuing operations |
|
$ |
0.74 |
|
$ |
0.65 |
|
$ |
1.22 |
|
$ |
1.72 |
EPS from discontinued operations |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
EPS available to common shareholders |
|
$ |
0.74 |
|
$ |
0.65 |
|
$ |
1.22 |
|
$ |
1.72 |
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|
|
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Diluted EPS: |
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|
|
|
|
|
|
|
|
|
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EPS from continuing operations |
|
$ |
0.74 |
|
$ |
0.65 |
|
$ |
1.22 |
|
$ |
1.72 |
EPS from discontinued operations |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
EPS available to common shareholders |
|
$ |
0.74 |
|
$ |
0.65 |
|
$ |
1.22 |
|
$ |
1.72 |
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