Earnings Per Share

6 Months Ended

Jun. 30, 2018

17. EARNINGS PER SHARE

The reconciliation of the numerator and denominator of basic earnings per share with that of diluted earnings per share is presented as follows:


	Three Months Ended				Six Months Ended
	June 30				June 30
	2018		2017		2018		2017
Distributed earnings allocated to common stock	$	35,516	$	34,562	$	71,195	$	61,284
Undistributed earnings allocated to common stock		30,637		2,440		56,557		14,454

Net earnings allocated to common shareholders	$	66,153	$	37,002	$	127,752	$	75,738

Average common shares outstanding		104,682,910		99,197,807		104,770,681		90,100,627
Equivalents from stock options		269,878		422,238		287,333		469,662

Average diluted shares outstanding		104,952,788		99,620,045		105,058,014		90,570,289

Earnings per basic common share	$	0.63	$	0.37	$	1.22	$	0.84
Earnings per diluted common share	$	0.63	$	0.37	$	1.22	$	0.84