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Earnings Per Share
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share

9.

EARNINGS PER SHARE

Diluted earnings per share reflects the potential dilution that could result if options or other contingently issuable shares were exercised or converted into common stock and notional shares from the Nonqualified Deferred Compensation Plan were granted. Diluted earnings per common share assumes the exercise of stock options using the treasury stock method.

 

 

 

Three months ended

June 30,

 

 

Six months ended

June 30,

 

(Amounts in thousands, except per share amounts)

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Earnings per common share-basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.40

 

 

$

0.59

 

 

$

0.94

 

 

$

1.17

 

Discontinued operations

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.38

 

Total earnings per common share-basic

 

$

0.40

 

 

$

0.59

 

 

$

0.94

 

 

$

1.55

 

Earnings per common share- diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.39

 

 

$

0.58

 

 

$

0.92

 

 

$

1.14

 

Discontinued operations

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.37

 

Total earnings per common share-diluted

 

$

0.39

 

 

$

0.58

 

 

$

0.92

 

 

$

1.51

 

Weighted average number of shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic common

 

 

82,598

 

 

 

83,394

 

 

 

82,874

 

 

 

83,758

 

Dilutive impact of Equity Incentive Plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common shares

 

 

1,683

 

 

 

2,198

 

 

 

1,551

 

 

 

2,162

 

Diluted common shares

 

 

84,281

 

 

 

85,592

 

 

 

84,425

 

 

 

85,920

 

 

Diluted earnings per share is computed using the weighted average number of common shares and dilutive potential common shares outstanding during the period. Dilutive potential common shares result from the assumed exercise of outstanding stock options, by application of the treasury stock method that has a dilutive effect on earnings per share. At June 30, 2016 and 2015, 2,177,738 and 579,995 stock options, respectively, were outstanding with an exercise price equal to or exceeding the market value of our common stock and were therefore excluded from the computation of shares contingently issuable upon exercise of the options.