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



	Quarter Ended					Year to Date Ended
	June 30, 2016			June 30, 2015		June 30, 2016			June 30, 2015
Operations:
Net income^(a)	$	6,308		$	7,871	$	13,367		$	12,941
Less: Amounts allocated to participating securities (nonvested shares and units)^(b)	240			293		506			484
Net income attributable to common shareholders	$	6,068		$	7,578	$	12,861		$	12,457
Share information:
Basic weighted average common shares^(c)	16,617,857		^(d)	17,400,359		16,612,416		^(d)	17,398,022
Incremental shares from potential dilutive securities^(e)	—			795		—			755
Diluted weighted average common shares	16,617,857			17,401,154		16,612,416			17,398,777

Basic and diluted earnings per share	$	0.37		$	0.44	$	0.77		$	0.72


^(a)	Net income attributable to all shareholders.


^(b)	Participating securities include 128,500 and 248,100 nonvested restricted shares at June 30, 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 248,100 at June 30, 2016 and 2015, respectively.

^(d)

Basic weighted average common shares for the quarter and year to date periods ended June 30, 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 June 30, 2016 and 2015. There were dilutive shares related to stock options totaling 0 and 4,000 for the quarters ended June 30, 2016 and 2015, respectively, and 0 and 4,000 for the year to date periods ended June 30, 2016 and 2015, respectively. The dilutive shares resulted in potential dilutive securities of 0 and 795 for the quarters ended June 30, 2016 and 2015, respectively, and 0 and 755 for the year to date periods ended June 30, 2016 and 2015, respectively.