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Earnings per Common Share
 12 Months Ended
Dec. 31, 2013
Earnings per Common Share  
Earnings per Common Share

14. Earnings per Common Share

        Basic EPS is computed by dividing net income (the numerator) by the weighted-average number of common shares outstanding for the period (the denominator). Diluted EPS is similarly calculated except that the denominator is increased using the treasury stock method to reflect the potential dilution that could occur if outstanding stock appreciation rights were exercised and stock awards vested at the end of the applicable period.

        The following is a calculation of basic and diluted weighted-average shares outstanding:

 
   December 31,  
(In thousands)
  2013   2012   2011  

Weighted-average shares—basic

     420,188     419,075     416,996  

Dilution effect of stock appreciation rights and stock awards at end of period

     2,187     2,912     4,526  
               
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Weighted-average shares—diluted

     422,375     421,987     421,522  
               
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Weighted-average shares excluded from diluted earnings per share due to the anti-dilutive effect

     5     85     5  
               
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