| Earnings Per Common Share |
Earnings Per Common Share
Basic and diluted earnings per common share are computed by dividing net income by the weighted-average number of basic and diluted common shares outstanding, respectively. The weighted-average number of diluted common shares includes the impact of dilutive securities, including unvested, unexercised stock options and unvested restricted stock. The table below reconciles the weighted-average basic and diluted common shares outstanding: | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | 2016 | | 2015 | | 2016 | | 2015 | Weighted average number of common shares outstanding - basic | 72,568,000 |
| | 71,657,000 |
| | 72,466,000 |
| | 71,563,000 |
| Effect of dilutive securities (1) | 748,000 |
| | 629,000 |
| | 699,000 |
| | 660,000 |
| Weighted average number of common shares outstanding - diluted | 73,316,000 |
| | 72,286,000 |
| | 73,165,000 |
| | 72,223,000 |
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| | (1) | Certain outstanding stock option awards have exercise prices greater than the average market price of our common stock during the periods presented. Such awards would be antidilutive and were therefore excluded from the calculation of the weighted average number of diluted common shares outstanding. During the three and six months ended June 30, 2016, options to purchase 553,000 and 551,000 shares having a weighted average exercise price of $34.14 were excluded. During the three and six months ended June 30, 2015, options to purchase 1,015,000 and 1,014,000 shares having weighted average exercise prices of $29.25 and $29.23, respectively, were excluded. |
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