Stockholders' Equity

3 Months Ended

Mar. 31, 2018

Stockholders' Equity Note [Abstract]

STOCKHOLDERS’ EQUITY

The following table summarizes information about shares of the Company’s common stock at:



	March 31,		December 31,
(In thousands)	2018	2017	2017
Common stock authorized	75,000	75,000	75,000
Common stock issued	27,898	27,590	27,674
Treasury stock	2,684	2,684	2,684

The following reconciliation details the denominator used in the computation of basic and diluted earnings per share:



	Three Months Ended March 31,
(In thousands)	2018	2017
Weighted average shares outstanding for basic earnings per share	25,149	24,906
Common stock equivalents pertaining to stock-based awards	316	349
Weighted average shares outstanding for diluted earnings per share	25,465	25,255

The weighted average diluted shares outstanding for the three months ended March 31, 2018 and 2017, exclude the effect of 447,625 and 143,270 shares of common stock, respectively, subject to stock-based awards. Such shares were excluded from total diluted shares because they were anti-dilutive or the specified performance conditions those shares were subject to were not yet achieved.

The table below summarizes the regular quarterly dividends declared and paid during the periods ended March 31, 2018 and December 31, 2017:



(In thousands, except per share data)	Per Share		Record Date	Payment Date	Total Paid
First Quarter 2017	$	0.50	03/06/17	03/17/17	$	12,442
Second Quarter 2017	0.50		05/19/17	06/02/17	12,445
Third Quarter 2017	0.50		08/18/17	09/01/17	12,459
Fourth Quarter 2017	0.55		11/17/17	12/01/17	13,711
Total 2017	$	2.05			$	51,057

First Quarter 2018	$	0.55	03/16/18	03/29/18	$	13,858

In February 2017, the Company issued 63,677 deferred stock units at the average price of $108.47, or $6.9 million, to executive officers in lieu of cash for a portion of their 2016 incentive compensation.