Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Numerator and denominator of the basic and diluted earnings per common share computations

The factors used in the earnings per share computation follow: 

	Three Months Ended March 31,
(In thousands, except per share data)	2018			2017
Net income	$	70,170		$	47,604
Net income allocated to participating securities	64			226
Net income allocated to common shareholders (1)	$	70,106		$	47,378
Weighted average common shares - issued	71,297			70,969
Average unvested restricted share awards	(66		)	(341		)
Weighted average common shares outstanding - basic	71,231			70,628
Effect of dilutive securities
Weighted average common stock equivalents	675			787
Weighted average common shares outstanding - diluted	71,906			71,415
EPS available to common shareholders
Basic earnings per common share	$	0.99		$	0.67
Diluted earnings per common share	$	0.97		$	0.67

⁽¹⁾  Net income allocated to common shareholders for basic and diluted earnings per share may differ under the two-class method as a result of adding common share equivalents for options and warrants to dilutive shares outstanding, which alters the ratio used to allocate net income to common shareholders and participating securities for the purposes of calculating diluted earnings per share.