EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2019

EARNINGS PER SHARE

EARNINGS PER SHARE

4.    EARNINGS PER SHARE

Basic and diluted earnings per share are computed by dividing net income by the weighted average number of shares outstanding during the respective periods. In addition, the Company has periodically issued share-based payment awards that contain non-forfeitable rights to dividends and are therefore considered participating securities. The following table shows the restricted shares of common stock (participating securities) outstanding and a reconciliation of outstanding weighted average shares is as follows:

	Three months ended				Six months ended
	June 30,				June 30,
(In thousands)	2019		2018		2019		2018
Net income available for stockholders:	$	6,171	$	59,943	$	5,432	$	112,073
Less: Adjustments for earnings attributable to participating securities		(109)		(673)		(334)		(1,266)
Net income used in calculating earnings per share	$	6,062	$	59,270	$	5,098	$	110,807
Weighted average shares outstanding (including participating securities)		214,908		215,194		214,974		215,641
Adjustment for participating securities		(2,569)		(2,473)		(2,559)		(2,528)
Shares used in calculating basic and diluted earnings per share		212,339		212,721		212,415		213,113