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:



	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands, except per share amounts)	2017		2016		2017		2016
Net income	$	72,118	$	52,258	$	138,716	$	100,209
Less: dividends declared	—		—		—		—
Net income available to common shareholders	$	72,118	$	52,258	$	138,716	$	100,209
Basic earnings per share	$	0.79	$	0.57	$	1.52	$	1.10
Diluted earnings per share	$	0.77	$	0.57	$	1.49	$	1.09
Basic weighted average shares outstanding	91,381		90,912		91,320		90,848
Dilutive effect of nonvested shares	1,781		1,226		1,773		1,151
Diluted weighted average shares outstanding	93,162		92,138		93,093		91,999

There were 16,497 and 37,918 antidilutive shares for the three months ended June 30, 2017 and 2016, respectively and 89,309 and 192,765 antidilutive shares for the six months ended June 30, 2017 and 2016, 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 June 30, 2017 and 2016, 100% of the dilutive performance-based share awards would be issuable under the terms of the arrangements at each date if June 30 was the end of the contingency period.