Below are the computations of basic and diluted earnings per share for the three and nine months ended September 30, 2016 and 2015:

(In thousands, except per share amounts)	Three Months Ended September 30				Nine Months Ended September 30
	2016		2015		2016		2015
Computation of Basic Earnings per Share
Net income attributable to Stepan Company	$	20,427	$	24,912	$	75,946	$	63,096
Weighted-average number of common shares outstanding		22,819		22,732		22,771		22,731
Basic earnings per share	$	0.90	$	1.10	$	3.34	$	2.78

Computation of Diluted Earnings per Share
Net income attributable to Stepan Company	$	20,427	$	24,912	$	75,946	$	63,096
Weighted-average number of shares outstanding		22,819		22,732		22,771		22,731
Add weighted-average net shares issuable from assumed exercise of options (under treasury stock method)⁽¹⁾		134		119		124		117
Add weighted-average net shares related to unvested stock awards (under treasury stock method)		6		2		5		3
Add weighted-average net shares from assumed exercise of SARS (under treasury stock method)		73		—		40		—
Add weighted-average contingently issuable net shares related to performance stock awards (under treasury stock method)		50		—		35		—
Weighted-average shares applicable to diluted earnings		23,082		22,853		22,975		22,851
Diluted earnings per share	$	0.89	$	1.09	$	3.31	$	2.76

⁽¹⁾ Options to purchase 58,287 shares of Company common stock were excluded from the computations of diluted earnings per share for the nine months ended September 30, 2016. Options to purchase 90,734 and 136,170 shares of Company common stock were excluded from the computations of diluted earnings per share for the three and nine months ended September 30, 2015, respectively. The excluded options’ exercise prices were greater than the average market price for the common stock, and their effect would have been antidilutive.