Earnings Per Share

9 Months Ended

Sep. 30, 2017

Earnings Per Share[Abstract]

Earnings Per Share

4.  Earnings per Share

Earnings per share (“EPS”) are computed using the weighted average number of shares of capital stock outstanding.  Earnings and diluted earnings per share are computed as follows (in thousands, except per share data):

			Net Income
For the Three Months Ended September 30,		Income		Shares	Earnings per Share
2017
	Earnings	$	35,437	15,976	$	2.22
	Dilutive stock options		-	616
	Nonvested stock awards		-	84
	Diluted earnings	$	35,437	16,676	$	2.13
2016
	Earnings	$	26,829	16,166	$	1.66
	Dilutive stock options		-	294
	Nonvested stock awards		-	99
	Diluted earnings	$	26,829	16,559	$	1.62

			Net Income
For the Nine Months Ended September 30,		Income		Shares	Earnings per Share
2017
	Earnings	$	43,625	16,068	$	2.72
	Dilutive stock options		-	609
	Nonvested stock awards		-	86
	Diluted earnings	$	43,625	16,763	$	2.60
2016
	Earnings	$	76,554	16,443	$	4.66
	Dilutive stock options		-	296
	Nonvested stock awards		-	112
	Diluted earnings	$	76,554	16,851	$	4.54

For the three months ended September 30, 2017, no stock options and nonvested stock awards have been excluded in the calculation of dilutive earnings per share because they would have been anti-dilutive.

For the nine month period ended September 30,  2017, there were 7,304stock options excluded from the computation of diluted earnings per share because they would have been anti-dilutive.

For the three and nine month periods ended September 30,  2016, 418,000stock options were excluded from the computation of diluted earnings per share because they would have been anti-dilutive.