EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2017

Diluted earnings per share were computed based on the weighted-average number of shares outstanding plus all potentially dilutive common shares. A reconciliation of basic to diluted shares used in the earnings per share calculation is as follows:



	(In thousands)
	Three Months Ended
	March 31,
	2017	2016
Basic weighted-average shares outstanding	44,246	44,578
Dilutive effect of stock options and deferred stock compensation	614	662
Diluted weighted-average shares outstanding	44,860	45,240

For the three months ended March 31, 2017, approximately 38,000 shares issuable under equity-based awards were excluded from the calculation of diluted earnings per share as they were anti-dilutive based on the average stock price during the period. For the three months ended March 31, 2016, there were no anti-dilutive equity-based awards.