Earnings per Common Share

Basic and diluted earnings per common share were computed as follows:

(In thousands, except per share amounts)	201 7		201 6		201 5
Numerator:
Net income	$	90,284	$	33,464	$	35,745
Denominator:
Basic earnings per common share - weighted-average shares		54,492		54,177		55,796
Effect of dilutive stock options		358		284		395
Diluted earnings per common share - weighted-average shares and assumed conversions		54,850		54,461		56,191
Basic earnings per common share	$	1.66	$	0.62	$	0.64
Diluted earnings per common share	$	1.65	$	0.61	$	0.64

Options totaling

145,169,

564,833

and

542,333

equivalent shares were outstanding but were

not

included in the calculation of diluted earnings per share for

2017,

2016

and

2015,

respectively, because including the options in the denominator would be antidilutive, or decrease the number of weighted-average shares, due to their exercise prices exceeding the average market price of the common shares, or because inclusion of average unrecognized compensation expense in the calculation would cause the options to be antidilutive.

Unvested performance unit awards (see Note

) totaling

124,046,

64,162

and

116,092

equivalent shares for

2017,

2016

and

2015,

respectively, were considered outstanding but were

not

included in the calculation of diluted earnings per share because inclusion of average unrecognized compensation expense in the calculation would cause the performance units to be antidilutive.