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 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, 2017, 2016 and 2015, shares deemed to be antidilutive, and thus excluded from the computation of earnings per common share were 9,000, 291,000 and 238,000, 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,
	2017		2016		2015
	(In thousands, except per share amounts)
Earnings per common share:
Net earnings	$	104,411	$	101,429	$	99,145
Less: Net earnings allocated to restricted stock		382		421		515

Net earnings allocated to common shareholders	$	104,029	$	101,008	$	98,630

Weighted average shares outstanding		109,409		107,282		105,715
Basic earnings per common share	$	0.95	$	0.94	$	0.93


Diluted earnings per common share:
Net income allocated to common shareholders	$	104,029	$	101,008	$	98,630

Weighted average shares outstanding		109,409		107,282		105,715
Incremental shares from assumed exercise of outstanding options		398		405		477

Diluted weighted average shares outstanding		109,807		107,687		106,192
Diluted earnings per common share	$	0.95	$	0.94	$	0.93