Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of Weighted Average Number of Shares

The table below reconciles the weighted-average basic and diluted common shares outstanding:



	Three Months Ended September 30,		Nine Months Ended September 30,
	2016	2015	2016	2015
Weighted average number of common shares outstanding - basic	72,839,000	72,009,000	72,718,000	71,714,000
Effect of dilutive securities⁽¹⁾	753,000	682,000	717,000	667,000
Weighted average number of common shares outstanding - diluted	73,592,000	72,691,000	73,435,000	72,381,000

⁽¹⁾

Certain outstanding stock option awards are anti-dilutive and were therefore excluded from the calculation of the weighted average number of diluted common shares outstanding. During the three and nine months ended September 30, 2016, options to purchase 501,000 and 544,000 shares having a weighted average exercise price of $34.14 were excluded. During the three and nine months ended September 30, 2015, options to purchase 597,000 and 925,000 shares having weighted average exercise prices of $30.03 and $29.33, respectively, were excluded.