Earnings per common share

3 Months Ended

Mar. 31, 2018

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 nonvested performance share awards and restricted stock units. Common stock outstanding includes issued shares less shares held in treasury. Earnings on common stock 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
	March 31,
	2018	2017
	(In thousands)
Weighted average common shares outstanding - basic	195,304	195,304
Effect of dilutive performance share awards	678	719
Weighted average common shares outstanding - diluted	195,982	196,023
Shares excluded from the calculation of diluted earnings per share	—	—