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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Calculation of Basic and Diluted Earnings Per Share

The calculation of basic and diluted EPS follows.

 

 

Year ended December 31,

 

 

 

2015

 

 

2014

 

 

2013

 

 

(In thousands, except per-share amounts)

 

Basic EPS:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator (continuing operations):

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

189,871

 

 

$

179,834

 

 

$

158,701

 

Income attributable to unvested participating securities

 

 

(1,572

)

 

 

(2,038

)

 

 

(2,605

)

Income from continuing operations used in calculating basic

   EPS

 

$

188,299

 

 

$

177,796

 

 

$

156,096

 

Numerator (discontinued operations):

 

 

 

 

 

 

 

 

 

 

 

 

Income from discontinued operations

 

$

-

 

 

$

1,578

 

 

$

4,024

 

Income attributable to unvested participating securities

 

 

-

 

 

 

(18

)

 

 

(66

)

Income from discontinued operations used in calculating

   basic EPS

 

$

-

 

 

$

1,560

 

 

$

3,958

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average vested shares

 

 

50,881

 

 

 

54,567

 

 

 

55,834

 

Basic EPS from continuing operations

 

$

3.70

 

 

$

3.26

 

 

$

2.80

 

Basic EPS from discontinued operations

 

$

-

 

 

$

0.03

 

 

$

0.07

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted EPS:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator (continuing operations):

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

189,871

 

 

$

179,834

 

 

$

158,701

 

Income attributable to unvested participating securities

 

 

(1,571

)

 

 

(2,037

)

 

 

(2,575

)

Income from continuing operations used in calculating diluted

   EPS

 

$

188,300

 

 

$

177,797

 

 

$

156,126

 

Numerator (discontinued operations):

 

 

 

 

 

 

 

 

 

 

 

 

Income from discontinued operations

 

$

-

 

 

$

1,578

 

 

$

4,024

 

Income attributable to unvested participating securities

 

 

-

 

 

 

(18

)

 

 

(65

)

Income from discontinued operations used in calculating

   diluted EPS

 

$

-

 

 

$

1,560

 

 

$

3,959

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average vested shares

 

 

50,881

 

 

 

54,567

 

 

 

55,834

 

Dilutive effect of incremental shares if issued for warrants outstanding

 

 

-

 

 

 

-

 

 

 

787

 

Dilutive effect of incremental shares to be issued for equity

   awards

 

 

32

 

 

 

31

 

 

 

4

 

Weighted-average shares used in calculating diluted EPS

 

 

50,913

 

 

 

54,598

 

 

 

56,625

 

Diluted EPS from continuing operations

 

$

3.70

 

 

$

3.26

 

 

$

2.76

 

         Diluted EPS from discontinued operations

 

$

-

 

 

$

0.03

 

 

$

0.07