Earnings Per Share

There are no adjustments to “Net income applicable to Piedmont” for the diluted earnings per share computations.

Net income per share-basic is calculated as net income available to common stockholders divided by the weighted average number of common shares outstanding during the period. Net income per share-diluted is calculated as net income available to common stockholders divided by the diluted weighted average number of common shares outstanding during the period, including unvested deferred stock awards. Diluted weighted average number of common shares reflects the potential dilution under the treasury stock method that would occur if the remaining unvested deferred stock awards vested and resulted in additional common shares outstanding. Unvested deferred stock awards which are determined to be anti-dilutive are not included in the calculation of diluted weighted average common 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 years ended December 31, 2017, 2016, and 2015, respectively (in thousands):



	2017	2016	2015
Weighted-average common shares—basic	145,044	145,230	150,538
Plus: Incremental weighted-average shares from time-vested deferred and performance stock awards	336	405	342
Weighted-average common shares—diluted	145,380	145,635	150,880

Common stock issued and outstanding as of period end	142,359	145,235	145,512