Earnings per Share

12 Months Ended

Dec. 31, 2017

Note N – Earnings per Share

Net loss was used as the numerator in computing both basic and diluted income per Common share for each of the three years ended December 31, 2017. The following table reconciles the weighted-average shares outstanding used for these computations.



(Weighted-average shares)	2017	2016	2015
Basic method	172,524,061	172,173,012	174,351,227
Dilutive stock options 1	–	–	–
Diluted method	172,524,061	172,173,012	174,351,227

1 Due to a net loss recognized by the Company for the years ended December 31, 2017, 2016 and 2015, no unvested stock awards were included in the computation of diluted earnings per share because the effect would have been antidilutive.

The following table reflects certain options to purchase shares of common stock that were outstanding during the three years ended December 31, 2017, but were not included in the computation of dilutive earnings per share because the incremental shares from the assumed conversion were antidilutive.



	2017	2016	2015
Antidilutive stock options excluded from diluted shares	4,901,269	5,757,435	5,443,288
Weighted average price of these options	$45.74	$48.46	$52.93