Earnings Per Share Level 1 (Notes)

12 Months Ended

Dec. 31, 2016

Earnings Per Share

Basic earnings per common share (EPS) excludes dilution and is computed by dividing Net income attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other obligations to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that shared in our earnings.

A reconciliation of the numerators and denominators of basic and diluted EPS for the three years ended December 31 is presented below:



	2016		2015			2014
	(In thousands, except per share amounts)
Amounts attributable to common stockholders:
Income from continuing operations — basic	$	177,038	$	234,162		$	170,283
After tax interest on convertible debt	43		50			51
Income from continuing operations — diluted	$	177,081	$	234,212		$	170,334

(Loss) income from discontinued operations, net of tax	$	—	$	(390	)	$	2,186

Net income — basic	$	177,038	$	233,772		$	172,469
After tax interest on convertible debt	43		50			51
Net income — diluted	$	177,081	$	233,822		$	172,520
Weighted average shares:
Weighted average shares — basic	193,086		200,356			210,741
Stock options	2,823		3,973			3,338
Restricted share units	12		—			—
Convertible debt	121		121			121
Weighted average shares — diluted	196,042		204,450			214,200
Amounts attributable to common stockholders:
Income from continuing operations per share:
Basic	$	0.92	$	1.17		$	0.81
Diluted	$	0.90	$	1.14		$	0.80
Income from discontinued operations per share:
Basic	$	—	$	—		$	0.01
Diluted	$	—	$	—		$	0.01
Net income per share:
Basic	$	0.92	$	1.17		$	0.82
Diluted	$	0.90	$	1.14		$	0.81

The computation of diluted earnings per share excludes outstanding stock options in certain periods in which the inclusion of such options would be antidilutive to the periods presented. Total options not currently included in the computation of dilutive EPS