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Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Computation Of Basic And Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June 30, 2016 and 2015 (in thousands, except per share data):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Net income

 

$

9,771

 

 

$

20,888

 

 

$

36,826

 

 

$

63,985

 

Shares for basic and diluted calculation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average shares used in basic computation

 

 

66,792

 

 

 

68,370

 

 

 

67,186

 

 

 

68,189

 

Dilutive effect of stock options and units (1)

 

 

9,190

 

 

 

9,486

 

 

 

8,898

 

 

 

9,435

 

Average shares used in diluted computation

 

 

75,982

 

 

 

77,856

 

 

 

76,084

 

 

 

77,624

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.15

 

 

$

0.31

 

 

$

0.55

 

 

$

0.94

 

Diluted

 

$

0.13

 

 

$

0.27

 

 

$

0.48

 

 

$

0.82

 

 

1

Diluted earnings per share is computed on the basis of the weighted-average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Diluted earnings per share include stock options and units.