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Per Share Data
9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Per Share Data
Per Share Data
The Company presents both basic and diluted net income per share (“EPS”) amounts. Basic EPS is calculated by dividing net income by the weighted average number of common shares outstanding during the period (including 4,087,731 common shares held in a grantor trust established in March 2017). The common shares held in the grantor trust are for delivery upon settlement of vested but mandatorily deferred restricted stock units ("RSUs"). Shares held by the grantor trust do not affect diluted shares outstanding since the shares deliverable under vested RSUs were already included in diluted shares outstanding. Diluted EPS is based upon the weighted average number of basic and common equivalent shares outstanding during the period and is calculated using the treasury stock method for stock incentive plans. Common equivalent shares are excluded from the computation in periods in which they have an anti-dilutive effect.
The weighted average number of common shares used in the computation of basic and diluted earnings per share was as follows:
 
For the Three Months
 
For the Nine Months
 
Ended September 30,
 
Ended September 30,
(In thousands)
2017
 
2016
 
2017
 
2016
Basic
125,818

 
122,562

 
124,363

 
122,652

Diluted
128,944

 
128,556

 
129,289

 
128,501