Earnings Per Share

9 Months Ended

Sep. 30, 2016

(2) Earnings Per Share

The Company computes earnings per share in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 260, Earnings Per Share (“ASC 260”). A reconciliation of the component parts of earnings per share for the three months and nine months ended September 30, 2016 and 2015 is as follows:

(in thousands, except per share data)	For the three months ended September 30:				For the nine months ended September 30:
	2016		2015		2016		2015
Net income	$	10,930		10,616	$	31,803		32,058
Weighted average common shares		95,603		95,149		95,486		95,051
Stock Options		119		85		86		116
Weighted average common shares including potential dilutive shares		95,722		95,234		95,572		95,167

Basic EPS	$	0.114		0.112	$	0.333		0.337

Diluted EPS	$	0.114		0.111	$	0.333		0.337

For the three months and nine months ended September 30, 2016, the weighted average number of antidilutive stock options excluded from diluted earnings per share was approximately 1.6 million. For the three and nine months ended September 30, 2015 the weighted average number of antidilutive stock options excluded from diluted earnings per share was approximately 1.4 million. The stock options are antidilutive because the strike price is greater than the average fair value of the Company’s common stock for the periods presented.