Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2017

Computation Of Basic And Diluted Earnings (Loss) Per Common Share

The following is a computation of basic and diluted earnings per common share for the years ended December 31, 2017, 2016 and 2015:



(in thousands, except per share data)	2017		2016		2015
NUMERATORS:
Net income	$	246,019	$	232,940	$	222,539
Less:
Dividends and undistributed earnings allocated to participating securities ⁽¹⁾	56		125		357
Net earnings available to common shareholders	$	245,963	$	232,815	$	222,182
DENOMINATORS:
Weighted average number of common shares outstanding - basic	220,251		220,282		220,327
Effect of potentially dilutive common shares⁽²⁾	585		626		718
Weighted average number of common shares outstanding - diluted	220,836		220,908		221,045
EARNINGS PER COMMON SHARE:
Basic	$	1.12	$	1.06	$	1.01
Diluted	$	1.11	$	1.05	$	1.01

⁽¹⁾Represents dividends paid and undistributed earnings allocated to nonvested restricted stock awards.

⁽²⁾Represents the effect of the assumed exercise of stock options, vesting of non-participating restricted shares, and vesting of restricted stock units, based on the treasury stock method.

Schedule Of Weighted Average Outstanding Securities Not Included In The Computation Of Diluted Earnings Per Common Share

The following table presents the weighted average outstanding securities that were not included in the computation of diluted earnings per common share because their effect would be anti-dilutive for the years ended December 31, 2017, 2016 and 2015:



(in thousands)	2017	2016	2015
Stock options	9	51	95
Restricted stock	1	—	3