Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.7.0.1
Earnings Per Share
6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share, Policy
Note 2. Earnings Per Share

Basic earnings per share of the Company is computed by dividing net income by the daily weighted average number of shares of common stock outstanding for the period, excluding unvested restricted stock. Unvested restricted stock is included in common shares outstanding in the balance sheets. Diluted earnings per share is computed using the treasury stock method and includes the impact of shares of unvested restricted stock.

The following table provides a reconciliation of the number of common shares used in computing basic and diluted earnings per share:
 
 
Three Months Ended 
 
Six Months Ended
 
 
June 30,
 
June 30,
 
 
2017
 
2016
 
2017
 
2016
Weighted average shares outstanding - basic
 
82,318,623

 
83,354,013

 
82,333,739

 
83,668,521

Dilutive effect of share-based awards
 
109,352

 
27,416

 
102,431

 
13,707

Weighted average shares outstanding - diluted
 
82,427,975

 
83,381,429


82,436,170


83,682,228