Earnings Per Share

9 Months Ended

Sep. 30, 2014

Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding. Diluted earnings per share is computed by dividing net income by the weighted average common and potentially dilutive common equivalent shares outstanding, determined as follows:



	Three Months Ended		Nine Months Ended
	September 30,		September 30,
(In Thousands)	2014	2013	2014	2013
Weighted average shares outstanding used to compute basic earnings per share	32,319	32,201	32,291	32,155
Incremental dilutive shares attributable to stock options and restricted stock	188	457	298	436
Shares used to compute diluted earnings per share	32,507	32,658	32,589	32,591

Incremental shares attributable to stock options and restricted stock are computed using the average market price during the related period. For the three and nine months ended September 30, 2014, average out-of-the-money options to purchase shares were excluded from the calculation of incremental shares attributable to stock options and restricted stock were 343,656 and 228,533, respectively. For the three and nine months ended September 30, 2013, average out-of-the-money options to purchase shares were excluded from the calculation of incremental shares attributable to stock options and restricted stock were 60,100 and 40,056, respectively.

- Definition

The entire disclosure for earnings per share.

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