Common Stockholders' Equity

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Common Stockholders' Equity

Common Stockholders’ Equity

The weighted average number of shares used in the computation of net income per share was as follows:

	2016	2015	2014
Basic	122,650,997	124,040,313	127,873,708
Diluted	128,552,838	130,188,866	133,651,855

Treasury shares have been excluded from average outstanding shares from the date of acquisition. The difference in calculating basic and diluted net income per share is attributable entirely to the dilutive effect of stock-based compensation plans. Changes in shares of common stock outstanding, net of treasury shares, are presented below. Shares of common stock issued and outstanding do not include shares related to unissued restricted stock units and unexercised stock options.

	2016		2015		2014
Balance, beginning of year	123,307,837		126,748,836		132,233,167
Shares issued	281,654		1,061,026		332,137
Shares repurchased	(2,395,892	)	(4,502,025	)	(5,816,468)
Balance, end of year	121,193,599		123,307,837		126,748,836

The amount of dividends paid is dependent upon factors such as the receipt of dividends from our subsidiaries, our results of operations, cash flow, financial condition and business needs, the capital and surplus requirements of our subsidiaries, and applicable insurance regulations that limit the amount of dividends that may be paid by our regulated insurance subsidiaries.