Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2016

Schedule of Weighted Average Number of Shares

The following table reconciles the denominator for the basic and diluted earnings per share computations shown on the consolidated statements of income for the three and six months ended June 30, 2016 and 2015, respectively (in thousands):



	Three Months Ended		Six Months Ended
	June 30, 2016	June 30, 2015	June 30, 2016	June 30, 2015
Weighted-average common shares – basic	145,179	153,559	145,228	153,947
Plus incremental weighted-average shares from time-vested conversions:
Deferred and performance stock awards	520	198	537	227
Weighted-average common shares – diluted ⁽¹⁾	145,699	153,757	145,765	154,174


⁽¹⁾	Due to repurchases of common stock during the current year, Piedmont has 145,229,642 shares of common stock outstanding as of June 30, 2016.