XML 26 R14.htm IDEA: XBRL DOCUMENT v3.4.0.3
Earnings per Share
 3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
Earnings Per Share
The table below presents a reconciliation between basic and diluted weighted average shares outstanding, net income available to common shareholders and basic and diluted income per share for the three months ended March 31, 2016 and 2015:
 
 
Three Months Ended
 
 
March 31,
(In thousands, except per share amounts)
 
2016
 
2015
NUMERATOR
 
 
 
 
Net income
 
$
9,189

 
$
9,568

Preferred stock dividends
 
(1,219
)
 
(1,219
)
Net income to common shareholders
 
7,970

 
8,349

Interest on 3.25% convertible senior subordinated notes due 2017
 
385

 
373

Interest on 3.00% convertible senior subordinated notes due 2018
 
520

 
503

Diluted income available to common shareholders
 
$
8,875

 
$
9,225

DENOMINATOR
 
 
 
 
Basic weighted average shares outstanding
 
24,657

 
24,514

Effect of dilutive securities:
 
 
 
 
Stock option awards
 
168

 
219

Deferred compensation awards
 
122

 
157

3.25% convertible senior subordinated notes due 2017
 
2,416

 
2,416

3.00% convertible senior subordinated notes due 2018
 
2,669

 
2,669

Diluted weighted average shares outstanding - adjusted for assumed conversions
 
30,032

 
29,975

Earnings per common share:
 
 
 
 
Basic
 
$
0.32

 
$
0.34

Diluted
 
$
0.30

 
$
0.31

Anti-dilutive equity awards not included in the calculation of diluted earnings per common share
 
1,539

 
1,366


For the three months ended March 31, 2016 and 2015, the effect of convertible debt was included in the diluted earnings per share calculations.