Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Numerator and denominator of the basic and diluted earnings per common share computations

The factors used in the earnings per share computation follow: 

	Three Months Ended March 31,
(In thousands, except per share data)	2019			2018
Net income	$	62,942		$	71,596
Net income allocated to participating securities	24			66
Net income allocated to common shareholders (1)	$	62,918		$	71,530
Weighted average common shares - issued	71,498			71,297
Average unvested restricted share awards	(24		)	(66		)
Weighted average common shares outstanding - basic	71,474			71,231
Effect of dilutive securities
Weighted average common stock equivalents	667			675
Weighted average common shares outstanding - diluted	72,141			71,906
EPS available to common shareholders
Basic earnings per common share	$	0.88		$	1.01
Diluted earnings per common share	$	0.87		$	0.99

⁽¹⁾  Net income allocated to common shareholders for basic and diluted earnings per share may differ under the two-class method as a result of adding common share equivalents for options to dilutive shares outstanding, which alters the ratio used to allocate net income to common shareholders and participating securities for the purposes of calculating diluted earnings per share.