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Earnings per Share (EPS)
 12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Earnings per Share (EPS)
Earnings per Share (EPS)
The following table reconciles the net income and the weighted average common shares outstanding used in the computations of basic and diluted earnings per common share for the years ended December 31:
(In thousands, except per share amounts)
 
2017
 
2016
 
2015
Net income
 
$
379,747

 
$
222,606

 
$
157,331

Less: Common Shares dividends declared
 
—

 
—

 
—

Undistributed net income
 
$
379,747

 
$
222,606

 
$
157,331

Net income allocable to Common
 
$
379,747

 
$
222,606

 
$
157,331

 
 
 

 
 

 
 

Basic earnings per share
 
$
4.07

 
$
2.45

 
$
1.74

Diluted earnings per share
 
$
3.99

 
$
2.41

 
$
1.72

Basic weighted average Common Shares outstanding
 
93,330

 
90,913

 
90,351

Dilutive effect of nonvested shares
 
1,881

 
1,332

 
1,387

Diluted weighted average Common Shares outstanding
 
95,211

 
92,245

 
91,738


There were 44,540, 96,251 and 78,198 antidilutive shares for the years ended December 31, 2017, 2016 and 2015, respectively.
The nonvested performance-based share awards are considered contingently issuable for purposes of the EPS calculation. Based on the compounded annual book value per share growth as of December 31, 2017, 2016 and 2015, 100% of the performance-based share awards would be issuable under the terms of the arrangements at each date if December 31 was the end of the contingency period.