Earnings Per Share and Capital Stock (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of reconciliation of Registrant's net income and weighted average Common Shares outstanding for calculating basic net income per share

The following is a reconciliation of Registrant’s net income and weighted average Common Shares outstanding for calculating basic net income per share:



Basic:	For The Years Ended December 31,
(in thousands, except per share amounts)	2019		2018		2017
Net income	$	84,342	$	63,871	$	69,367
Less: (a) Distributed earnings to common shareholders	42,702		38,937		36,417
Distributed earnings to participating securities	180		204		197
Undistributed earnings	41,460		24,730		32,753

(b) Undistributed earnings allocated to common shareholders	41,285		24,601		32,577
Undistributed earnings allocated to participating securities	175		129		176
Total income available to common shareholders, basic (a)+(b)	$	83,987	$	63,538	$	68,994

Weighted average Common Shares outstanding, basic	36,814		36,733		36,638

Basic earnings per Common Share	$	2.28	$	1.73	$	1.88

Schedule of reconciliation of Registrant's net income and weighted average Common Shares outstanding for calculating diluted net income per share

The following is a reconciliation of Registrant’s net income and weighted average Common Shares outstanding for calculating diluted net income per share:



Diluted:	For The Years Ended December 31,
(in thousands, except per share amounts)	2019		2018		2017
Common shareholders earnings, basic	$	83,987	$	63,538	$	68,994
Undistributed earnings for dilutive stock options and restricted stock units	175		129		176
Total common shareholders earnings, diluted	$	84,162	$	63,667	$	69,170

Weighted average Common Shares outstanding, basic	36,814		36,733		36,638
Stock-based compensation (1)	150		203		206
Weighted average Common Shares outstanding, diluted	36,964		36,936		36,844

Diluted earnings per Common Share	$	2.28	$	1.72	$	1.88

(1) In applying the treasury stock method of reflecting the dilutive effect of outstanding stock-based compensation in the calculation of diluted EPS, 159,720 restricted stock units, including performance awards, at December 31, 2019 were deemed to be outstanding in accordance with accounting guidance on earnings per share.