EARNINGS PER SHARE

9 Months Ended

Sep. 30, 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:



	Three Months Ended		Nine Months Ended
(In thousands)	September 30,		September 30,
	2017	2016	2017	2016
Basic weighted-average shares outstanding	44,137	44,323	44,196	44,457
Dilutive effect of stock options and deferred stock compensation	549	674	586	671
Diluted weighted-average shares outstanding	44,686	44,997	44,782	45,128

For the three months and nine months ended September 30, 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 and nine months ended September 30, 2016, there were no anti-dilutive equity-based awards.