Earnings Per Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

11. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per common share:

	Year Ended December 31,
		2014		2013	2012
	(In thousands, except per share amounts)
Net income from continuing operations	$	74,806	$	68,563	$	61,784
Net income (loss) from discontinued operations		—		7,453		(1,715	)
Net income	$	74,806	$	76,016	$	60,069
Common stock - voting		36,930		36,886		36,101
Common stock - non-voting		—		—		415
Basic weighted average shares outstanding		36,930		36,886		36,516
Basic earnings per common share
Income from continuing operations	$	2.03	$	1.86	$	1.69
Income (loss) from discontinued operations		—		0.20		(0.04	)
Basic earnings per share	$	2.03	$	2.06	$	1.65
Weighted average shares outstanding		36,930		36,886		36,516
Dilutive effect of stock options and restricted stock		959		1,002		1,300
Diluted weighted average shares outstanding		37,889		37,888		37,816
Diluted earnings per common share
Income from continuing operations	$	1.97	$	1.81	$	1.64
Income (loss) from discontinued operations		—		0.20		(0.05	)
Diluted earnings per share	$	1.97	$	2.01	$	1.59

Stock options and restricted stock totaling 66,637 shares, 160,838 shares and 86,346 shares for the years ended December 31, 2014, 2013 and 2012, respectively, were excluded from the computation of diluted earnings per share because their effect would have been antidilutive. The computation of diluted shares can vary among periods due, in part, to the change in the average price of the Company’s common stock.