Earnings Per Share

12 Months Ended

Dec. 31, 2019



(17) Earnings Per Share

Basic earnings per share are computed by dividing earnings applicable to common stock by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of common stock equivalent shares that could occur if unvested shares were to vest. Common stock equivalent shares are calculated using the treasury stock method, as applicable. The dilutive effect is computed by dividing earnings applicable to common stock by the weighted average number of common shares outstanding plus the effect of the outstanding unvested restricted stock and performance share awards. Average shares used in computing the basic and diluted earnings per share are as follows:



	December 31,
	2019	2018	2017
Basic computation	50,428,560	49,984,562	48,557,599
Dilutive effect of
Performance and restricted share awards (1)	323,298	252,909	97,722
Diluted computation	50,751,858	50,237,471	48,655,321

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(1) Performance share awards are included in diluted weighted average number of shares outstanding based upon what would be issued if the end of the most recent reporting period was the end of the term of the award.