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Earnings Per Share | 12 Months Ended
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Dec. 31, 2017
Earnings Per Share |
Earnings Per Share | (8) Earnings Per Share Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding for the period. Treasury stock is excluded from the weighted average number of shares of common stock outstanding. Diluted earnings per share attributable to common stockholders is computed based on the weighted average number of shares of common stock and dilutive securities outstanding during the period. Dilutive securities are common stock equivalents that are freely exercisable into common stock at less than market prices or otherwise dilute earnings if converted. The net effect of common stock equivalents is based on the incremental common stock that would be issued upon the assumed exercise of common stock options and the vesting of restricted stock using the treasury stock method. Common stock equivalents are not included in diluted earnings per share when their inclusion is antidilutive. Additionally, redeemable preferred stock is not convertible and does not affect dilutive shares. The computations of diluted weighted average earnings per common do not include approximately 700, Nil and 4,300 restricted shares for the year ended December 31, 2017, 2016, and 2015, respectively, as the effect of their inclusion would have been antidilutive to earnings per share. The following table presents the calculation of basic and diluted EPS:
|  | Years Ended December 31, |
|  | 2017 |  | 2016 |  | 2015 |
|  |  | (in thousands) |
Net income attributable to common shareholders |  | $ | 60,299 |  | $ | 13,780 |  | $ | 6,460 |
Basic weighted average common shares outstanding |  |  | 6,074 |  |  | 6,570 |  |  | 7,817 |
Potentially dilutive common shares |  |  | 146 |  |  | 144 |  |  | 170 |
Diluted weighted average common shares outstanding |  |  | 6,220 |  |  | 6,714 |  |  | 7,987 |
Basic weighted average earnings per common share |  | $ | 9.93 |  | $ | 2.10 |  | $ | 0.83 |
Diluted weighted average earnings per common share |  | $ | 9.69 |  | $ | 2.05 |  | $ | 0.81 |
The difference between average common shares outstanding to calculate basic and assuming full dilution is due to options outstanding under the 1996 Stock Option/Stock Issuance Plan and restricted stock issued under the 2007 Stock Incentive Plan.

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