Earnings Per Share and Capital Stock (Tables)

12 Months Ended

Dec. 31, 2016

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)	2016		2015		2014
Net income	$	59,743	$	60,484	$	61,058
Less: (a) Distributed earnings to common shareholders	33,408		32,690		32,125
Distributed earnings to participating securities	187		207		177
Undistributed earnings	26,148		27,587		28,756

(b) Undistributed earnings allocated to common shareholders	26,003		27,414		28,599
Undistributed earnings allocated to participating securities	145		173		157

Total income available to common shareholders, basic (a)+(b)	$	59,411	$	60,104	$	60,724

Weighted average Common Shares outstanding, basic	36,552		37,389		38,658

Basic earnings per Common Share	$	1.63	$	1.61	$	1.57

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:



Diluted:	For The Years Ended December 31,
(in thousands, except per share amounts)	2016		2015		2014
Common shareholders earnings, basic	$	59,411	$	60,104	$	60,724
Undistributed earnings for dilutive stock options and restricted stock units	145		173		157
Total common shareholders earnings, diluted	$	59,556	$	60,277	$	60,881

Weighted average Common Shares outstanding, basic	36,552		37,389		38,658
Stock-based compensation (1)	198		225		222
Weighted average Common Shares outstanding, diluted	36,750		37,614		38,880

Diluted earnings per Common Share	$	1.62	$	1.60	$	1.57

(1) In applying the treasury stock method of reflecting the dilutive effect of outstanding stock-based compensation in the calculation of diluted EPS, 136,560 stock options and 209,932 restricted stock units, including performance awards, at December 31, 2016 were deemed to be outstanding in accordance with accounting guidance on earnings per share.