Earnings per Share

3 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Earnings per Share

Earnings per Share.

The computations of basic and diluted earnings per share are as follows:

	Quarter Ended
	March 31, 2016			March 31, 2015
Operations:
Net income(a)	$	7,059		$	5,070
Less:  Amounts allocated to participating securities (nonvested shares and units)(b)	270			209
Net income attributable to common shareholders	$	6,789		$	4,861
Share information:
Basic weighted average common shares(c)	16,607,074		(d)	17,395,659
Incremental shares from potential dilutive securities(e)	—			713
Diluted weighted average common shares	16,607,074			17,396,372
Basic and diluted earnings per share	$	0.41		$	0.28

^(a)  Net income attributable to all shareholders.

^(b)  Participating securities include 128,500 and 278,900 nonvested restricted shares at March 31, 2016 and 2015, respectively.

^(c)  Under the two-class method, basic weighted average common shares exclude outstanding nonvested, participating securities consisting of restricted share awards of 128,500 and  278,900 at March 31, 2016 and 2015, respectively.

^(d)  Basic weighted average common shares at March 31, 2016 were affected by the September 1, 2015, purchase of 950,000 shares of common stock in a privately-negotiated transaction with F2 SEA, Inc., an affiliate of SEACOR Holdings, Inc. pursuant to a Stock Repurchase Agreement. SEACOR Holdings, Inc. is the 70 percent owner of ICP, the Company's 30 percent equity method investment.

^(e)  There were no anti-dilutive shares related to stock options for the quarters ended March 31, 2016 and 2015. There were dilutive shares related to stock options totaling 0 and 4,000 for the quarters ended March 31, 2016 and 2015, respectively. The dilutive shares resulted in potential dilutive securities of 0 and 713 for the quarters ended March 31, 2016 and 2015, respectively.