Earnings per Share

3 Months Ended

Mar. 31, 2016

Note H – Earnings per Share

Net income (loss) was used as the numerator in computing both basic and diluted income per Common share for the

three-months ended March 31, 2016 and 2015. The following table reconciles the weighted-average shares outstanding used for these computations.



	Three Months Ended
	March 31,
(Weighted-average shares)	2016	2015
Basic method	172,114,012	177,734,159
Dilutive stock options and restricted stock units*	–	507,457
Diluted method	172,114,012	178,241,616

*Due to a net loss, recognized by the Company for the 2016 period, no unvested stock awards were included in the computation of diluted earnings per share because the effect would have been anti-dilutive.



	Three Months Ended
		March 31,
		2016	2015
Antidilutive stock options excluded from diluted shares		5,714,823		3,314,751
Weighted average price of these options	$	51.07	$	57.19