Earnings per Share

12 Months Ended

Dec. 31, 2016

NOTE 15. EARNINGS PER SHARE

The following table presents the computation of basic and diluted net earnings per share for the years indicated:



	Year Ended December 31,
	2016			2015			2014
	(Dollars in thousands, except per share data)
Basic Earnings Per Share:
Net earnings from continuing operations	$	352,166		$	299,619		$	170,468
Less: earnings allocated to unvested restricted stock⁽¹⁾	(3,988		)	(2,892		)	(1,959		)
Net earnings from continuing operations allocated to common shares	348,178			296,727			168,509
Net loss from discontinued operations allocated to common shares	—			—			(1,545		)
Net earnings allocated to common shares	$	348,178		$	296,727		$	166,964

Weighted-average basic shares and unvested restricted stock outstanding	121,670			107,401			87,871
Less: weighted-average unvested restricted stock outstanding	(1,431		)	(1,074		)	(1,018		)
Weighted-average basic shares outstanding	120,239			106,327			86,853

Basic earnings per share:
Net earnings from continuing operations	$	2.90		$	2.79		$	1.94
Net loss from discontinued operations	—			—			(0.02		)
Net earnings	$	2.90		$	2.79		$	1.92

Diluted Earnings Per Share:
Net earnings from continuing operations allocated to common shares	$	348,178		$	296,727		$	168,509
Net loss from discontinued operations allocated to common shares	—			—			(1,545		)
Net earnings allocated to common shares	$	348,178		$	296,727		$	166,964

Weighted-average basic shares outstanding	120,239			106,327			86,853

Diluted earnings per share:
Net earnings from continuing operations	$	2.90		$	2.79		$	1.94
Net loss from discontinued operations	—			—			(0.02		)
Net earnings	$	2.90		$	2.79		$	1.92

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(1)	Represents cash dividends paid to holders of unvested restricted stock, net of estimated forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any.