Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v3.10.0.1
Earnings Per Share
12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Earnings Per Share

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)

 

2018

 

 

2017

 

 

2016

 

Weighted average shares outstanding - basic

 

 

81,923,564

 

 

 

82,308,417

 

 

 

83,112,012

 

Dilutive effect of share-based awards

 

 

96,217

 

 

 

98,651

 

 

 

41,647

 

Weighted average shares outstanding - diluted

 

 

82,019,781

 

 

 

82,407,068

 

 

 

83,153,659