Basic and Diluted Net Income Per Common Share

9 Months Ended

Sep. 30, 2016

Basic and Diluted Net Income Per Common Share

Basic and Diluted Net Income Per Common Share

9.    Basic and Diluted Net Income Per Common Share

Computation of basic and diluted net income per common share is performed as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands, except per share amounts)	2016		2015		2016		2015
Net income available to common stockholders	$	6,385	$	12,106	$	19,739	$	35,747
Weighted Average Shares Outstanding
Basic		50,246		51,891		50,260		52,217
Effect of Dilutive Securities		738		743		744		828
Diluted		50,984		52,634		51,004		53,045
Basic net income per common share	$	0.13	$	0.23	$	0.39	$	0.68
Diluted net income per common share	$	0.13	$	0.23	$	0.39	$	0.67

For the three and nine months ended September 30, 2016 and 2015, there were 1.3 million shares and 0.8 million shares of stock based compensation awards, respectively, that were excluded from the dilutive calculations as the effect would have been antidilutive.