Earnings Per Share

The computations of basic and diluted earnings per share are noted below. Basic earnings per share is computed by dividing the net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts were exercised or converted into common stock. RSAs are included in the weighted average common shares outstanding because the shares have all the same voting and dividend rights as issued and unrestricted common stock. RSUs are not included in diluted shares for financial reporting until authorized by the Compensation & Organization Committee of the Board of Directors.

There were no shares of Stock Appreciation Rights (SARs) outstanding as of September 30, 2017 and 2016, respectively. All the SARs were dilutive when they were outstanding during the period, as shown in the tables below.



	Three Months Ended September 30
	2017		2016
	(In thousands, except per share data)
Net income available to common stockholders	$	33,849	$	22,875
Weighted average common shares outstanding, basic	48,017		47,969
Dilutive SARs (treasury method)	—		—
Weighted average common shares outstanding, dilutive	48,017		47,969
Earnings per share - basic	$	0.70	$	0.48
Earnings per share - diluted	$	0.70	$	0.48



	Nine Months Ended September 30
	2017		2016
	(In thousands, except per share data)
Net income available to common stockholders	$	53,512	$	33,585
Weighted average common shares outstanding, basic	48,007		47,949
Dilutive SARs (treasury method)	—		3
Weighted average common shares outstanding, dilutive	48,007		47,952
Earnings per share - basic	$	1.11	$	0.70
Earnings per share - diluted	$	1.11	$	0.70