Earnings per Share

6 Months Ended

Jun. 30, 2017

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-month and six-month periods ended June 30, 2017 and 2016. The following table reconciles the weighted-average shares outstanding used for these computations.



	Three Months Ended		Six Months Ended
	June 30,		June 30,
(Weighted-average shares)	2017	2016	2017	2016
Basic method	172,557,978	172,196,914	172,482,223	172,149,791
Dilutive stock options and restricted stock units*	–	602,913	534,441	–
Diluted method	172,557,978	172,799,827	173,016,664	172,149,791

*Due to net losses recognized by the Company for the three-month period ended June 30, 2017 and for the six-month period ended June 30, 2016, 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				Six Months Ended
		June 30,			June 30,
		2017	2016		2017		2016
Antidilutive stock options excluded from diluted shares		5,578,634		5,084,395		4,903,084		5,799,268
Weighted average price of these options	$	46.64	$	54.22	$	52.01	$	50.17