Computation of Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Reconciliation of the Basic and Diluted Earnings Per Share Computations

The following table sets forth the reconciliation of the basic and diluted earnings per share computations for the years ended December 31 (in thousands, except per share amounts):



	2016		2015		2014
Numerator:
Net income used for calculating basic and diluted earnings per common share	$	193,582	$	175,635	$	183,766
Denominator: (1)
Weighted average number of common shares used in the calculation of basic earnings per share	82,571		83,852		89,337
Common share equivalents associated with stock-based compensation plans	1,249		1,204		1,382
Shares used in the calculation of diluted earnings per share	83,820		85,056		90,719
Earnings per share:
Basic	$	2.34	$	2.09	$	2.06
Diluted	$	2.31	$	2.06	$	2.03


(1)	The Company repurchased 0.6 million, 6.2 million, and 5.9 million shares of its Common Stock in 2016, 2015, and 2014, respectively.

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table presents the number of common share equivalents that were not included in the computation of diluted EPS in the table above because the effect would have been anti-dilutive. During periods with net income, these common share equivalents were anti-dilutive because their exercise price was greater than the average market value of a share of Common Stock during the period.



	2016		2015		2014
Anti-dilutive common share equivalents as of December 31 (in millions):	0.2		0.3		0.3
Average market price per share of Common Stock during the year	$	92.58	$	86.02	$	73.27