Earnings Per Share Reconciliation

12 Months Ended

Dec. 31, 2015

17. EARNINGS PER SHARE RECONCILIATION

Basic earnings per common share are computed by dividing income allocated to common stockholders by the weighted-average number of common shares outstanding during each period. The computation of diluted earnings per common share considers the number of tax-effected shares issuable upon the assumed exercise of outstanding common stock options. Antidilutive common shares are not included in the calculation of diluted earnings per common share. For the years ended December 31, 2015, 2014 and 2013, shares deemed to be antidilutive, and thus excluded from the computation of earnings per common share were 238,000, 213,000 and 744,000 million, respectively.

The table below shows earnings per common share and diluted earnings per common share, and reconciles the numerator and denominator of both earnings per common share calculations.


	For the Year Ended December 31,
	2015		2014		2013
	(In thousands, except per share amounts)
Earnings per common share:
Net earnings	$	99,145	$	104,021	$	95,608
Less: Net earnings allocated to restricted stock		515		544		298

Net earnings allocated to common shareholders	$	98,630	$	103,477	$	95,310

Weighted average shares outstanding		105,715		105,239		104,729
Basic earnings per common share	$	0.93	$	0.98	$	0.91

Diluted earnings per common share:
Net income allocated to common shareholders	$	98,630	$	103,477	$	95,310

Weighted average shares outstanding		105,715		105,239		104,729
Incremental shares from assumed exercise of outstanding options		477		520		397

Diluted weighted average shares outstanding		106,192		105,759		105,126
Diluted earnings per common share	$	0.93	$	0.98	$	0.91