Earnings Per Share and Capital Stock (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of reconciliation of Registrant's net income and weighted average Common Shares outstanding for calculating basic net income per share

The following is a reconciliation of Registrant’s net income and weighted average Common Shares outstanding for calculating basic net income per share:



Basic	For The Years Ended December 31,
(in thousands, except per share amounts)	2015		2014		2013
Net income	$	60,484	$	61,058	$	62,686
Less: (a) Distributed earnings to common shareholders	32,690		32,125		29,366
Distributed earnings to participating securities	207		177		171
Undistributed earnings	27,587		28,756		33,149

(b) Undistributed earnings allocated to common shareholders	27,414		28,599		32,958
Undistributed earnings allocated to participating securities	173		157		191

Total income available to common shareholders, basic (a)+(b)	$	60,104	$	60,724	$	62,324

Weighted average Common Shares outstanding, basic	37,389		38,658		38,639

Basic earnings per Common Share:	$	1.61	$	1.57	$	1.61

Schedule of reconciliation of Registrant's net income and weighted average Common Shares outstanding for calculating diluted net income per share

The following is a reconciliation of Registrant’s net income and weighted average Common Shares outstanding for calculating diluted net income per share reflecting the two-for-one stock split effective September 3, 2013:



Diluted	For The Years Ended December 31,
(in thousands, except per share amounts)	2015		2014		2013
Common shareholders earnings, basic	$	60,104	$	60,724	$	62,324
Undistributed earnings for dilutive stock options and restricted stock units	173		157		191
Total common shareholders earnings, diluted	$	60,277	$	60,881	$	62,515

Weighted average Common Shares outstanding, basic	37,389		38,658		38,639
Stock-based compensation (1)	225		222		230
Weighted average Common Shares outstanding, diluted	37,614		38,880		38,869

Diluted earnings per Common Share	$	1.60	$	1.57	$	1.61

(1) In applying the treasury stock method of reflecting the dilutive effect of outstanding stock-based compensation in the calculation of diluted EPS, 150,606 stock options and 243,288 restricted stock units, including performance awards, at December 31, 2015 were deemed to be outstanding in accordance with accounting guidance on earnings per share.