Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v3.6.0.2
Earnings Per Share
12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share, Policy [Policy Text Block]

Note 7. Earnings Per Share

Basic earnings per share is computed by dividing net income by the daily weighted average number of shares of our common stock outstanding for the period, excluding unvested restricted stock. Unvested restricted stock is included in common shares outstanding on our 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:
 
 
Year Ended December 31,
(In thousands)
 
2016
 
2015
 
2014
Weighted average shares outstanding - basic
 
83,112,012

 
85,378,480

 
86,162,137

Dilutive effect of share-based awards
 
41,647

 

 

Weighted average shares outstanding - diluted
 
83,153,659

 
85,378,480

 
86,162,137