Earnings Per Share

6 Months Ended

Jun. 30, 2016

A reconciliation of basic and diluted weighted-average shares outstanding is as follows:



	Three Months Ended June 30,		Six Months Ended June 30,
	2016	2015	2016	2015
Basic weighted average shares outstanding	120,479,938	125,816,943	120,980,372	126,465,420
Weighted average dilutive options outstanding	2,267,910	1,622,698	2,055,407	1,553,309
Diluted weighted average shares outstanding	122,747,848	127,439,641	123,035,779	128,018,729
Antidilutive shares	—	—	18,158	—

As discussed earlier in Note 2—New Accounting Standards, the Company adopted ASU 2016-09 on January 1, 2016. The adoption resulted in an adjustment to the weighted average diluted shares outstanding to exclude excess tax benefits from the assumed proceeds in the diluted shares calculation. This change has been applied prospectively and resulted in diluted weighted average shares outstanding of 122.7 million for the quarter ended June 30, 2016, as compared with 121.9 million under the previous guidance. For the six months ended June 30, 2016, the diluted weighted average shares outstanding were 123.0 million as compared with 122.3 million under the previous guidance.