Earnings per common share

9 Months Ended

Sep. 30, 2014

Basic earnings per common share were computed by dividing earnings on common stock by the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings per common share were computed by dividing earnings on common stock by the total of the weighted average number of shares of common stock outstanding during the applicable period, plus the effect of outstanding performance share awards. Common stock outstanding includes issued shares less shares held in treasury. Net income was the same for both the basic and diluted earnings per share calculations. A reconciliation of the weighted average common shares outstanding used in the basic and diluted earnings per share calculations was as follows:



	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2014	2013	2014	2013
	(In thousands)
Weighted average common shares outstanding - basic	193,949	188,831	191,958	188,831
Effect of dilutive performance share awards	351	807	349	803
Weighted average common shares outstanding - diluted	194,300	189,638	192,307	189,634
Shares excluded from the calculation of diluted earnings per share	—	—	—	—

- Definition

The entire disclosure for earnings per share.

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