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Earnings Per Share
 12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Earnings Per Share

10. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per common share:

 

 

Year Ended December 31,

 

 

2017

 

 

2016

 

 

2015

 

 

(In thousands, except per share amounts)

 

Net income

$

148,089

 

 

$

126,172

 

 

$

96,037

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

36,864

 

 

 

36,844

 

 

 

36,690

 

Dilutive effect of stock options and restricted stock

 

1,174

 

 

 

894

 

 

 

947

 

Diluted weighted average shares outstanding

 

38,038

 

 

 

37,738

 

 

 

37,637

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

$

4.02

 

 

$

3.42

 

 

$

2.62

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share

$

3.89

 

 

$

3.34

 

 

$

2.55

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options and restricted stock totaling 31,766 shares, 84,052 shares and 128,383 shares for the years ended December 31, 2017, 2016 and 2015, respectively, were excluded from the computation of diluted earnings per share because their effect would have been antidilutive. The computation of diluted shares can vary among periods due, in part, to the change in the average price of the Company’s common stock.