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Earnings per Share Earnings per Share (Tables)
3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
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, 2019 and 2018:
 
Three Months Ended
 
March 31,
(In thousands, except per share amounts)
2019
 
2018
NUMERATOR
 
 
 
Net income
$
17,723

 
$
18,063

Interest on 3.00% convertible senior subordinated notes due 2018 (a)

 
410

Diluted income available to common shareholders
$
17,723

 
$
18,473

DENOMINATOR
 
 
 
Basic weighted average shares outstanding
27,498

 
28,124

Effect of dilutive securities:
 
 
 
Stock option awards
244

 
466

Deferred compensation awards
228

 
211

3.00% convertible senior subordinated notes due 2018 (a)

 
1,743

Diluted weighted average shares outstanding - adjusted for assumed conversions
27,970

 
30,544

Earnings per common share:
 
 
 
Basic
$
0.64

 
$
0.64

Diluted
$
0.63

 
$
0.60

Anti-dilutive equity awards not included in the calculation of diluted earnings per common share
606

 


(a)
On March 1, 2013, the Company issued $86.3 million in aggregate principal amount of 3.0% Convertible Senior Subordinated Notes due 2018 (the “2018 Convertible Senior Subordinated Notes”). The 2018 Convertible Senior Subordinated Notes were scheduled to mature on March 1, 2018 and the deadline for holders to convert the 2018 Convertible Senior Subordinated Notes was February 27, 2018. As a result of conversion elections made by holders of the 2018 Convertible Senior Subordinated Notes, (1) approximately $20.3 million in aggregate principal amount of the 2018 Convertible Senior Subordinated Notes were converted and settled through the issuance of approximately 0.629 million of our common shares (at a conversion price per common share of $32.31) and (2) the Company repaid in cash approximately $65.9 million in aggregate principal amount of the 2018 Convertible Senior Subordinated Notes at maturity.