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Earnings Per Share Reconciliation
6 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
Earnings Per Share Reconciliation
7.
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 three and six months ended June 30, 2019, shares deemed to be antidilutive, and thus excluded from the computation of earnings per common share, were 360,000 and 396,000, respectively. For the three and six months ended June 30, 2018, shares deemed to be antidilutive, and thus excluded from the computation of earnings per common share were 14,000 and 13,000, 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 Three Months
Ended June 30,
   
For the Six Months
Ended June 30,
 
 
    2019    
   
    2018    
   
    2019    
   
    2018    
 
 
(In thousands, except per share amounts)
 
Earnings per common share:
   
     
     
     
 
Net earnings
    $
54,481
      $
35,373
      $
106,123
      $
70,286
 
  Less: Net earnings allocated to restricted stock
   
134
     
94
     
276
     
202
 
                                 
Net earnings allocated to common shareholders
    $
54,347
      $
35,279
      $
105,847
      $
70,084
 
                                 
Weighted average shares outstanding
   
139,748
     
109,983
     
139,682
     
109,921
 
Basic earnings per common share
    $
0.39
      $
0.32
      $
0.76
      $
0.64
 
                                 
                                 
Diluted earnings per common share:
   
     
     
     
 
Net income allocated to common shareholders
   
54,347
     
35,279
     
105,847
     
70,084
 
                                 
  Weighted average shares outstanding
   
139,748
     
109,983
     
139,682
     
109,921
 
  Incremental shares from assumed exercise of outstanding options
   
149
     
372
     
179
     
418
 
                                 
Diluted weighted average shares outstanding
   
139,897
     
110,355
     
139,861
     
110,339
 
Diluted earnings per common share
    $
0.39
      $
0.32
      $
0.76
      $
0.64