Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share from continuing operations for the years ended December 31 (in thousands except per share amounts):



	2017		2016		2015
Numerator:
Income used in computing basic and diluted earnings per share	$	521,759	$	692,164	$	752,207
Denominator:
Denominator for basic earnings per share-weighted-average common shares	171,995		179,676		202,681
Effect of dilutive securities – employee stock compensation plan	937		859		1,005
Denominator for diluted earnings per share- adjusted weighted-average shares outstanding	172,932		180,535		203,686
Earnings per common share:
Basic	$	3.03	$	3.85	$	3.71
Diluted	$	3.02	$	3.83	$	3.69

Options to purchase 0.8 million, 1.4 million and 1.0 million weighted-average shares of common stock outstanding during 2017, 2016 and 2015, respectively, were not included in the Company’s computation of dilutive securities because the exercise price was greater than the market price and therefore the effect would have been anti-dilutive.

The Company has a share-based compensation plan under which employees may be granted share-based awards, including restricted stock units (RSUs). Non-forfeitable dividend equivalents are paid on unvested RSUs. As such, RSUs are considered participating securities under the two-class method of calculating earnings per share as described in ASC Topic 260, “Earnings per Share.” The two-class method of calculating earnings per share did not have a material impact on the Company’s earnings per share calculation as of December 31, 2017, 2016 and 2015.