Earnings per Share

9 Months Ended

Sep. 30, 2017

Note H – Earnings per Share

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

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



	Three Months Ended		Nine Months Ended
	September 30,		September 30,
(Weighted-average shares)	2017	2016	2017	2016
Basic method	172,572,873	172,199,350	172,509,418	172,164,683
Dilutive stock options and restricted stock units*	–	–	–	–
Diluted method	172,572,873	172,199,350	172,509,418	172,164,683

*Due to net losses recognized by the Company for all periods presented, 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				Nine Months Ended
		September 30,			September 30,
		2017	2016		2017		2016
Antidilutive stock options excluded from diluted shares		5,257,718		5,884,201		5,578,495		5,822,036
Weighted average price of these options	$	46.46	$	49.00	$	46.86	$	49.82