Earnings Per Share

3 Months Ended

Mar. 31, 2018

For the quarters ended March 31, 2018 and 2017, 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	2018	2017
Basic average common shares outstanding	17,164	16,983
Effect of dilutive options and restricted stock awards	175	301
Diluted average common shares outstanding	17,339	17,284

For each of the quarters ended March 31, 2018 and 2017, stock options for 137,709 shares and 38,280 shares of Common Stock were not considered in computing diluted earnings per common share because they were antidilutive.