EARNINGS PER COMMON SHARE:

The following table sets forth the computation of basic and diluted earnings per common share for the three months ended March 31, 2018 and 2017 (in thousands, except per share amounts):



	Three Months Ended
	March 31,
	2018		2017
Numerators:
Net income attributable to Genesee & Wyoming Inc.	$	75,098	$	26,238
Denominators:
Weighted average Class A common shares outstanding – Basic	61,918		61,413
Weighted average Class B common shares outstanding	701		758
Dilutive effect of employee stock-based awards	268		182
Weighted average shares – Diluted	62,887		62,353
Earnings per common share attributable to Genesee & Wyoming Inc. common stockholders:
Basic earnings per common share	$	1.21	$	0.43
Diluted earnings per common share	$	1.19	$	0.42

The following total number of shares of Class A Common Stock issuable under the assumed exercise of stock-based awards computed based on the treasury stock method were excluded from the calculation of diluted earnings per common share, as the effect of including these shares would have been antidilutive (in thousands):



	Three Months Ended
	March 31,
	2018	2017
Antidilutive shares	945	1,094

Share Repurchase

In September of 2015, the Company's Board of Directors authorized the repurchase of up to $300 million of the Company's Class A Common Stock (the Repurchase Program), subject to certain limitations under the Company's credit facility. The Repurchase Program was reaffirmed by the Board of Directors on March 4, 2018 after discussion of management's assessments of market conditions and other pertinent factors. During the three months ended March 31, 2018, the Company repurchased a total of 792,921 shares at an average price of $72.35 per share under the Repurchase Program. The Company's weighted average basic shares outstanding for the three months ended March 31, 2018 excluded 51,106 shares from this repurchase. Repurchased shares are recorded in treasury stock, at cost, which includes any applicable commissions and fees. As of March 31, 2018, the remaining amount authorized for repurchase under the Repurchase Program was $243 million.