Earnings Per Share

3 Months Ended

Mar. 31, 2017

For the quarters ended March 31, 2017 and 2016, basic earnings per share were computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Unexercised stock options and unvested restricted shares are excluded from this calculation but are included in the diluted earnings per share calculation using the treasury stock method as long as their effect is not antidilutive.

The following table provides a reconciliation of weighted-average shares used to determine basic and diluted earnings per share.



	Quarter Ended March 31,
In thousands	2017	2016
Basic average common shares outstanding	16,983	16,825
Effect of dilutive options and restricted stock awards	301	211
Diluted average common shares outstanding	17,284	17,036

For each of the quarters ended March 31, 2017 and 2016, stock options for 38,280 shares and 200,287 shares of Common Stock were not considered in computing diluted earnings per common share because they were antidilutive.