5.	EARNINGS PER SHARE ("EPS")

Basic EPS is computed by dividing net income by the weighted-average common shares outstanding during the reporting period. Diluted EPS is computed using the same method as basic EPS, but reflects the potential dilution that would occur if "in the money" stock options were exercised and converted into Common Stock, and if all likely aggregate Long-term Incentive Plan ("LTIP") and Sales Incentive Plan ("SIP") share are issued. In determining the weighted average shares outstanding for basic and diluted EPS, treasury shares are excluded. Vested restricted stock award ("RSA") shares are included in the calculation of the weighted average shares outstanding for basic and diluted EPS. Unvested RSA and SIP shares not yet awarded are recognized as a special class of participating securities under ASC 260, and are included in the calculation of the weighted average shares outstanding for basic and diluted EPS.

The following is a reconciliation of the numerators and denominators of basic and diluted EPS for the periods presented:

	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Net income per the Consolidated Statements of Income	$	13,035		$	12,321		$	24,536		$	27,066
Less: Dividends paid and earnings allocated to participating securities		(63	)		(43	)		(100	)		(72	)
Income attributable to common stock	$	12,972		$	12,278		$	24,436		$	26,994
Weighted average common shares outstanding, including participating securities		35,891,341			37,569,085			35,951,257			37,533,994
Less: weighted average participating securities		(197,249	)		(164,867	)		(178,538	)		(156,938	)
Weighted average common shares outstanding		35,694,092			37,404,218			35,772,719			37,377,056
Basic EPS	$	0.36		$	0.33		$	0.68		$	0.72
Income attributable to common stock	$	12,972		$	12,278		$	24,436		$	26,994
Weighted average common shares outstanding		35,694,092			37,404,218			35,772,719			37,377,056
Weighted average common equivalent shares outstanding		170,297			111,155			171,642			119,926
Weighted average common and equivalent shares outstanding		35,864,389			37,515,373			35,944,361			37,496,982
Diluted EPS	$	0.36		$	0.33		$	0.68		$	0.72

Common and equivalent shares resulting from the dilutive effect of "in-the-money" outstanding stock options are calculated based upon the excess of the average market value of the common stock over the exercise price of outstanding in-the-money stock options during the period.

There were no "out-of-the-money" stock options during the three-month or six-month periods ended June 30, 2019 or 2018.

For information about the calculation of expected aggregate LTIP and SIP share payouts, see Note 14.