Earnings Per Share and Capital Stock (Tables)

12 Months Ended

Dec. 31, 2018

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)	2018		2017		2016
Net income	$	63,871	$	69,367	$	59,743
Less: (a) Distributed earnings to common shareholders	38,937		36,417		33,408
Distributed earnings to participating securities	204		197		187
Undistributed earnings	24,730		32,753		26,148

(b) Undistributed earnings allocated to common shareholders	24,601		32,577		26,003
Undistributed earnings allocated to participating securities	129		176		145
Total income available to common shareholders, basic (a)+(b)	$	63,538	$	68,994	$	59,411

Weighted average Common Shares outstanding, basic	36,733		36,638		36,552

Basic earnings per Common Share	$	1.73	$	1.88	$	1.63

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)	2018		2017		2016
Common shareholders earnings, basic	$	63,538	$	68,994	$	59,411
Undistributed earnings for dilutive stock options and restricted stock units	129		176		145
Total common shareholders earnings, diluted	$	63,667	$	69,170	$	59,556

Weighted average Common Shares outstanding, basic	36,733		36,638		36,552
Stock-based compensation (1)	203		206		198
Weighted average Common Shares outstanding, diluted	36,936		36,844		36,750

Diluted earnings per Common Share	$	1.72	$	1.88	$	1.62

(1) In applying the treasury stock method of reflecting the dilutive effect of outstanding stock-based compensation in the calculation of diluted EPS, 35,560 stock options and 197,896 restricted stock units, including performance awards, at December 31, 2018 were deemed to be outstanding in accordance with accounting guidance on earnings per share.