Note 14— 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 outstanding stock options and unvested restricted stock and restricted stock units. The table below reconciles the weighted-average basic and diluted common shares outstanding: | | | | | | | | Three Months Ended March 31, | | 2018 | | 2017 | | (in thousands) | Weighted average number of common shares outstanding - basic | 73,913 |
| | 73,074 |
| Effect of dilutive securities (1) | 812 |
| | 872 |
| Weighted average number of common shares outstanding - diluted | 74,725 |
| | 73,946 |
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| | (1) | Certain outstanding stock option awards are anti-dilutive and were therefore excluded from the calculation of the weighted average number of diluted common shares outstanding. During the three months ended March 31, 2018, options to purchase 0.2 million shares having a weighted average exercise price of $52.06 per share were excluded. During the three months ended March 31, 2017, options to purchase 0.5 million shares having a weighted average exercise price of $39.38 per share were excluded. |
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