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Earnings Per Common Share
 3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Common Share
Earnings Per Common Share

Basic earnings per share are computed using the weighted-average number of common shares outstanding. The dilutive effect of potential common shares outstanding is included in diluted earnings per share. The computations of basic earnings per share and diluted earnings per share are as follows:
 
 
Three Months Ended March 31, 2016
 
Income
(Numerator)
 
Shares
(Denominator)
 
Per-share
Amount
 
 
Net income
$
18,626,000

 
 
 
 
 
Basic earnings per common share
$
18,626,000

 
72,364,000

 
$
0.26

 
Effect of dilutive securities:
 
 
 
 
 
 
Stock options and restricted stock
 
 
650,000

 
—

 
Diluted earnings per common share
$
18,626,000

 
73,014,000

 
$
0.26

 
 
 
 
 
Three Months Ended March 31, 2015
 
Income
(Numerator)
 
Shares
(Denominator)
 
Per-share
Amount
 
 
Net income
$
15,516,000

 
 
 
 
 
Basic earnings per common share
$
15,516,000

 
71,469,000

 
$
0.22

 
Effect of dilutive securities:
 
 
 
 
 
 
Stock options and restricted stock
 
 
690,000

 
—

 
Diluted earnings per common share
$
15,516,000

 
72,159,000

 
$
0.22



Stock awards to purchase 980,000 shares of common stock having average exercise prices of $32.45 per common share were outstanding during the three months ended March 31, 2016 but not included in the computation of diluted earnings per common share because the exercise prices of the options were greater than the average market price of our common stock, and therefore, would be antidilutive.
Stock awards to purchase 1,014,000 shares of common stock having average exercise prices of $29.22 per common share were outstanding during the three months ended March 31, 2015 but not included in the computation of diluted earnings per common share because the exercise prices of the options were greater than the average market price of our common stock, and therefore, would be antidilutive.