Earnings Per Share and Capital Structure (Text Block)

3 Months Ended

Mar. 31, 2016

Earnings Per Share and Capital Structure [Text Block]

Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (EPS):



	Three Months Ended March 31,
	2016		2015
	(in thousands, except per share data)
Net income available to common shareholders	$	10,089	$	5,398

Weighted average common shares outstanding - Basic	38,059		38,442
Dilutive effect of stock-based awards	317		316
Weighted average common shares outstanding - Diluted	38,376		38,758
Earnings per common share - Basic	$	0.27	$	0.14
Earnings per common share - Diluted	$	0.26	$	0.14

Stock-based Awards

For stock-based awards, the dilutive effect is calculated using the treasury stock method. Under this method, the dilutive effect is computed as if the awards were exercised at the beginning of the period (or at time of issuance, if later) and assumes the related proceeds were used to repurchase common stock at the average market price during the period. Related proceeds include the amount the employee must pay upon exercise, future compensation cost associated with the stock award, and the amount of excess tax benefits, if any. Approximately 1.2 million and 1.3 million stock-based awards were excluded from the calculation of diluted EPS for the three months ended March 31, 2016, and 2015 because they were anti-dilutive. These stock-based awards could be dilutive in future periods.