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Earnings per Common Share
 3 Months Ended
Mar. 31, 2014
Earnings per Common Share  
Earnings per Common Share

11. 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 were vested at the end of the applicable period.

 

 

 

Three Months Ended
March 31,

 

(In thousands)

 

2014

 

2013

 

Weighted-average shares - basic

 

416,900

 

420,300

 

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

 

1,613

 

2,452

 

Weighted-average shares - diluted

 

418,513

 

422,752

 

 

 

 

 

 

 

Weighted-average shares excluded from diluted earnings per share due to the anti-dilutive effect

 

272

 

368