Earnings per Share

Basic earnings per share is computed by dividing net income, after the deduction of preferred stock dividends and undistributed earnings allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted earnings per share assumes the issuance of common stock for all potentially dilutive share equivalents outstanding not classified as participating securities. Participating securities are defined as unvested stock-based payment awards that contain nonforfeitable rights to dividends.



(In thousands, except per share amounts)	2017			2016			2015
Net income attributable to continuing operations	$	26,027		$	92,691		$	69,590
Preferred stock dividends	(42		)	(42		)	(41		)
Income from continuing operations available to common equity	25,985			92,649			69,549
Dividends and undistributed earnings allocated to participating securities	(62		)	(144		)	(192		)
Income from continuing operations available to common shareholders	25,923			92,505			69,357

Net (loss) income attributable to discontinued operations	$	—		$	(755	)	$	1,217
Preferred stock dividends	—			—			(1		)
(Loss) income from discontinued operations available to common equity	—			(755		)	1,216
Dividends and undistributed earnings allocated to participating securities	—			1			(3		)
(Loss) income from discontinued operations available to common shareholders	—			(754		)	1,213

Basic weighted-average shares outstanding	37,997			37,456			37,293
Stock options and other stock compensation	700			530			417
Diluted weighted-average shares outstanding	38,697			37,986			37,710

Antidilutive stock options	—			—			658

Earnings per share attributable to continuing operations:
Basic	$0.68			$2.47			$1.86
Diluted	$0.67			$2.44			$1.84

(Loss) earnings per share attributable to discontinued operations:
Basic	$	—		$	(0.02	)	$	0.03
Diluted	$	—		$	(0.02	)	$	0.03