Earnings Per Share

3 Months Ended

Mar. 31, 2016

Note 2 – Earnings per share

Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing net income by the weighted average number of common shares and common share equivalents outstanding (if dilutive) during each period. The number of common share equivalents, which include stock options and restricted stock units (“RSUs”), is computed using the treasury stock method.

The reconciliation of the denominators used to calculate basic EPS and diluted EPS for the three months ended March 31, 2016 and 2015, are as follows:



	Three Months Ended March 31,
	(In thousands)
	(Unaudited)
	2016	2015
Weighted average shares outstanding-basic	127,595	128,040
Plus: Common share equivalents
Stock options and RSUs	508	636
Weighted average shares outstanding-diluted	128,103	128,676

Stock awards to acquire 393,847 shares and 46,400 shares for the three months ended March 31, 2016 and 2015 were excluded in the computations of diluted EPS because the effect of including the stock awards would have been anti-dilutive.