Earnings per Share

12 Months Ended

Dec. 31, 2016

Basic earnings per share is computed by dividing net income, after the deduction of preferred stock dividends and undistributed earnings allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted earnings per share assumes the issuance of common stock for all potentially dilutive share equivalents outstanding not classified as participating securities. Participating securities are defined as unvested stock-based payment awards that contain nonforfeitable rights to dividends.



(In thousands, except per share amounts)	2016			2015			2014
Net income attributable to continuing operations	$	92,691		$	69,590		$	87,447
Preferred stock dividends	(42		)	(41		)	(41		)
Income from continuing operations available to common equity	92,649			69,549			87,406
Dividends and undistributed earnings allocated to participating securities	(144		)	(192		)	(546		)
Income from continuing operations available to common shareholders	92,505			69,357			86,860

Net (loss) income attributable to discontinued operations	$	(755	)	$	1,217		$	1,059
Preferred stock dividends	—			(1		)	(1		)
(Loss) income from discontinued operations available to common equity	(755		)	1,216			1,058
Dividends and undistributed earnings allocated to participating securities	1			(3		)	(7		)
(Loss) income from discontinued operations available to common shareholders	(754		)	1,213			1,051

Basic weighted-average shares outstanding	37,456			37,293			37,138
Stock options and other stock compensation	530			417			590
Diluted weighted-average shares outstanding	37,986			37,710			37,728

Antidilutive stock options	—			658			—

Earnings per share attributable to continuing operations:
Basic	$2.47			$1.86			$2.34
Diluted	$2.44			$1.84			$2.30

(Loss) earnings per share attributable to discontinued operations:
Basic	$(0.02)			$0.03			$0.03
Diluted	$(0.02)			$0.03			$0.03