Earnings per common share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings per common share

Earnings per common share

Basic earnings per common share were computed by dividing earnings on common stock by the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings per common share were computed by dividing earnings on common stock by the total of the weighted average number of shares of common stock outstanding during the applicable period, plus the effect of outstanding performance share awards. Common stock outstanding includes issued shares less shares held in treasury. Net income was the same for both the basic and diluted earnings per share calculations. A reconciliation of the weighted average common shares outstanding used in the basic and diluted earnings per share calculations was as follows:

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2014	2013	2014	2013
	(In thousands)
Weighted average common shares outstanding - basic	192,060	188,831	190,946	188,831
Effect of dilutive performance share awards	599	632	597	629
Weighted average common shares outstanding - diluted	192,659	189,463	191,543	189,460
Shares excluded from the calculation of diluted earnings per share	—	—	—	—