Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2015

Basic and Diluted Earnings Per Share

The following table illustrates basic and diluted EPS under the guidance of GAAP for the years ended December 31, 2015, 2014 and 2013:

	2015					2014					2013
(in thousands, except per share data)	Common Stock			Participating Securities		Common Stock			Participating Securities		Common Stock			Participating Securities
Basic EPS:
Net income	$	364,044				$	322,872				$	244,750
Less income allocated to nonvested awards		(3,164	)		3,164		(3,308	)		3,308		(1,595	)		1,595
Net income allocated to common stock for EPS calculation(a)	$	360,880			3,164	$	319,564			3,308	$	243,155			1,595
Average common shares outstanding(b)		182,465			1,617		184,297			1,925		187,145			1,246
Basic EPS(a)/(b)	$	1.98			1.96	$	1.73			1.72	$	1.30			1.28
Diluted EPS:
Net income	$	364,044				$	322,872				$	244,750
Less income allocated to nonvested awards		(3,148	)		3,148		(3,288	)		3,288		(1,585	)		1,585
Net income allocated to common stock for EPS calculation(c)	$	360,896			3,148	$	319,584			3,288	$	243,165			1,585
Average common shares outstanding		182,465			1,617		184,297			1,925		187,145			1,246
Increase due to assumed issuance of shares related to common equivalent shares outstanding		1,157					1,459					1,648
Average common and common equivalent shares outstanding(d)		183,622			1,617		185,756			1,925		188,793			1,246
Diluted EPS(c)/(d)	$	1.97			1.95	$	1.72			1.71	$	1.29			1.27