Earnings Per Share (Text Block)

3 Months Ended

Mar. 31, 2017

Earnings Per Share

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



	Three Months Ended March 31,
	2017		2016
	(in thousands, except per share data)
Net income available to common shareholders	$	15,845	$	10,089

Weighted average common shares outstanding - Basic	38,474		38,059
Dilutive effect of stock-based awards	741		317
Weighted average common shares outstanding - Diluted	39,215		38,376
Earnings per common share - Basic	$	0.41	$	0.27
Earnings per common share - Diluted	$	0.40	$	0.26

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 and the future compensation cost associated with the stock award. Approximately 0.2 million and 1.2 million stock-based awards were excluded from the calculation of diluted EPS for the three months ended March 31, 2017 and 2016 because they were anti-dilutive. These stock-based awards could be dilutive in future periods.