Earnings per Share Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The table below presents a reconciliation between basic and diluted weighted average shares outstanding, net income available to common shareholders and basic and diluted income per share for the three and nine months ended September 30, 2019 and 2018:



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands, except per share amounts)	2019		2018		2019		2018
NUMERATOR
Net income	$	37,838	$	29,282	$	85,807	$	75,256
Interest on 3.00% convertible senior subordinated notes due 2018^(a)	—		—		—		408
Diluted income available to common shareholders	$	37,838	$	29,282	$	85,807	$	75,664
DENOMINATOR
Basic weighted average shares outstanding	27,981		28,469		27,695		28,389
Effect of dilutive securities:
Stock option awards	403		220		338		346
Deferred compensation awards	214		217		205		202
3.00% convertible senior subordinated notes due 2018 ^(a)	—		—		—		574
Diluted weighted average shares outstanding - adjusted for assumed conversions	28,598		28,906		28,238		29,511
Earnings per common share:
Basic	$	1.35	$	1.03	$	3.10	$	2.65
Diluted	$	1.32	$	1.01	$	3.04	$	2.56
Anti-dilutive equity awards not included in the calculation of diluted earnings per common share	—		437		412		363

(a)

On March 1, 2013, the Company issued $86.3 million in aggregate principal amount of 3.0% Convertible Senior Subordinated Notes due 2018 (the “2018 Convertible Senior Subordinated Notes”). The 2018 Convertible Senior Subordinated Notes were scheduled to mature on March 1, 2018 and the deadline for holders to convert the 2018 Convertible Senior Subordinated Notes was February 27, 2018. As a result of conversion elections made by holders of the 2018 Convertible Senior Subordinated Notes, (1) approximately $20.3 million in aggregate principal amount of the 2018 Convertible Senior Subordinated Notes were converted and settled through the issuance of approximately 0.629 million of our common shares (at a conversion price per common share of $32.31) and (2) the Company repaid in cash approximately $65.9 million in aggregate principal amount of the 2018 Convertible Senior Subordinated Notes at maturity.