Earnings and Dividends Per Share (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of Earnings Per Share, Basic and Diluted

The following table summarizes the average number of common shares and the net income used in the calculation of basic and diluted earnings per common share (in thousands, except share and per share amounts):



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
Net income attributable to common stockholders	$	33,600	$	25,250	$	94,466	$	74,080

BASIC:
Weighted average common shares outstanding	37,566,221		33,055,992		37,563,503		33,053,386

DILUTED:
Weighted average common shares outstanding	37,566,221		33,055,992		37,563,503		33,053,386
Stock options	16,920		32,578		42,024		33,643
Convertible subordinated debentures	—		—		6,314		—
Average dilutive common shares outstanding	37,583,141		33,088,570		37,611,841		33,087,029

Net income per common share - basic	$	.89	$	.76	$	2.51	$	2.24
Net income per common share - diluted	$	.89	$	.76	$	2.51	$	2.24

Incremental shares excluded since anti-dilutive:
Net share effect of stock options with an exercise price in excess of the average market price for our common shares	107,993		24,659		42,052		26,734

Regular dividends declared per common share	$	.85	$	.77	$	2.55	$	2.31