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Earnings Per Common Share (Tables)
9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Common Share

Basic and diluted earnings per common share gives effect, utilizing the two-class method, to the potential dilution from the issuance of shares of our common stock in settlement of RSUs which provide for non-forfeitable dividend equivalents equal to the dividends declared per common share. Basic and diluted earnings per common share is computed by dividing net earnings less dividend equivalents attributable to RSUs by the weighted average number of common shares outstanding during the period.

Diluted earnings per common share, also gives effect to the potential dilution from the exercise of stock options utilizing the treasury stock method. There were no options outstanding as of September 30, 2018 and 2017.

The following table is a reconciliation of the numerator and denominator used in the computation of basic and diluted earnings per common share using the two-class method (in thousands except per share data):

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Earnings from continuing operations

 

$

11,017

 

 

$

9,458

 

 

$

35,002

 

 

$

31,728

 

Less earnings attributable to RSUs outstanding

 

 

(183

)

 

 

(126

)

 

 

(548

)

 

 

(391

)

Earnings from continuing operations

 

 

10,834

 

 

 

9,332

 

 

 

34,454

 

 

 

31,337

 

Earnings (loss) from discontinued operations

 

 

(73

)

 

 

(118

)

 

 

(486

)

 

 

2,422

 

Less earnings attributable to RSUs outstanding

 

 

 

 

 

 

 

 

 

 

 

(30

)

Earnings (loss) from discontinued operations

 

 

(73

)

 

 

(118

)

 

 

(486

)

 

 

2,392

 

Net earnings attributable to common stockholders used in

   basic and diluted earnings per share calculation

 

$

10,761

 

 

$

9,214

 

 

$

33,968

 

 

$

33,729

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

40,430

 

 

 

38,702

 

 

 

40,016

 

 

 

35,979

 

Incremental shares from stock-based compensation

 

 

25

 

 

 

 

 

 

15

 

 

 

 

Diluted

 

 

40,455

 

 

 

38,702

 

 

 

40,031

 

 

 

35,979

 

Basic earnings per common share

 

$

0.27

 

 

$

0.24

 

 

$

0.85

 

 

$

0.94

 

Diluted earnings per common share

 

$

0.27

 

 

$

0.24

 

 

$

0.85

 

 

$

0.94