The following tables present a reconciliation of the components of basic and diluted EPS computations for the three years ended December 31:



	For the year ended December 31,
	2017			2016			2015
	(In thousands, except share and per share data)
Basic earnings per share - Numerator:
Net income from continuing operations	$	40,189		$	70,244		$	62,921
Less: Net income attributable to noncontrolling interests	4,468			4,157			4,407
Net income from continuing operations attributable to the Company	35,721			66,087			58,514
Decrease/ (increase) in noncontrolling interests’ redemption values (1)	(1,412		)	(588		)	464
Dividends on preferred stock	(3,475		)	(3,475		)	(3,475		)
Total adjustments to income attributable to common shareholders	(4,887		)	(4,063		)	(3,011		)
Net income from continuing operations attributable to common shareholders, treasury stock method (2)	30,834			62,024			55,503
Net income from discontinued operations (2)	4,870			5,541			6,411
Net income attributable to common shareholders, treasury stock method (2)	$	35,704		$	67,565		$	61,914

Basic earnings per share - Denominator:
Weighted average basic common shares outstanding	82,430,633			81,264,273			80,885,253
Per share data - Basic earnings per share from:
Continuing operations	$	0.37		$	0.76		$	0.69
Discontinued operations	$	0.06		$	0.07		$	0.08
Total attributable to common shareholders	$	0.43		$	0.83		$	0.77



	For the year ended December 31,
	2017		2016		2015
	(In thousands, except share and per share data)
Diluted earnings per share - Numerator:
Net income from continuing operations attributable to common shareholders, after assumed dilution (2)	$	30,834	$	62,024	$	55,503
Net income from discontinued operations	4,870		5,541		6,411
Net income attributable to common shareholders, after assumed dilution	$	35,704	$	67,565	$	61,914
Diluted earnings per share - Denominator:
Weighted average basic common shares outstanding	82,430,633		81,264,273		80,885,253
Dilutive effect of:
Stock options, performance-based and time-based restricted stock, and performance-based and time-based restricted stock units, and other dilutive securities (2), (3)	1,313,953		1,002,153		1,301,448
Warrants to purchase common stock (3)	1,057,979		942,700		1,206,389
Dilutive common shares	2,371,932		1,944,853		2,507,837
Weighted average diluted common shares outstanding (2), (3)	84,802,565		83,209,126		83,393,090
Per share data - Diluted earnings per share from:
Continuing operations	$	0.36	$	0.74	$	0.66
Discontinued operations	$	0.06	$	0.07	$	0.08
Total attributable to common shareholders	$	0.42	$	0.81	$	0.74
Dividends per share declared and paid on common stock	$	0.44	$	0.40	$	0.36

_____________________

(1)

See Part II. Item 8. “Financial Statements and Supplementary Data - Note 14: Noncontrolling Interests” for a description of the redemption values related to the redeemable noncontrolling interests. In accordance with ASC 480, Distinguishing Liabilities from Equity (“ASC 480”), an increase in redemption values from period to period reduces income attributable to common shareholders. Decreases in redemption value from period to period increase income attributable to common shareholders, but only to the extent that the cumulative change in redemption value remains a cumulative increase since adoption of this standard in the first quarter of 2009.

(2)

The Company presents its EPS based on the treasury stock method. The Company reverted to the treasury stock presentation from the two-class presentation due to the immaterial number of participating shares outstanding as of March 31, 2016. There is no difference between the calculation of EPS based on the treasury stock method and the calculation of EPS based on the two-class method for the year ended December 31, 2017.

If the EPS presentation had been based on the two-class method, the following adjustments would have been made to the presentation of EPS for the year ended December 31, 2016. Net income attributable to common shareholders would have been reduced by an additional $4 thousand, for the year ended December 31, 2016. The allocation of net income to participating securities would have been $8 thousand for the year ended December 31, 2016, reducing net income attributable to common shareholders by a total of $12 thousand for the same period. Basic EPS would not change. Weighted average diluted shared outstanding would have been reduced by 7,185 shares for the year ended December 31, 2016. Diluted EPS would not change.

If the EPS presentation had been based on the two-class method, the following adjustments would have been made to the presentation of EPS for the year ended December 31, 2015. Net income attributable to common shareholders would have been reduced by an additional $90 thousand for the year ended December 31, 2015, and the allocation of net income to participating securities would have been $92 thousand for the same period, reducing net income attributable to common shareholders by a total of $182 thousand, for the same period. Total basic EPS and basic EPS from continuing operations would each decrease by $0.01 per share for the year ended December 31, 2015. Weighted average diluted shares outstanding would have been reduced by 167,937 shares for the same period. Diluted EPS would not change.


(3)	The diluted EPS computations for the years ended December 31, 2017, 2016, and 2015 do not assume the conversion, exercise or contingent issuance of the following shares for the following periods because the result would have been antidilutive for the periods indicated. As a result of the anti-dilution, the potential common shares excluded from the diluted EPS computation are as follows:



	For the year ended December 31,
	2017	2016	2015
Shares excluded due to anti-dilution (treasury stock method):	(In thousands)
Potential common shares from:
Convertible trust preferred securities (a)	1	1	1
Total shares excluded due to anti-dilution	1	1	1



	For the year ended December 31,
	2017	2016	2015
Shares excluded due to exercise price exceeding the average market price of common shares during the period (total outstanding):	(In thousands)
Potential common shares from:
Options, restricted stock, or other dilutive securities (b)	67	270	548
Total shares excluded due to exercise price exceeding the average market price of common shares during the period	67	270	548


(a)	If the effect of the conversion of the trust preferred securities would have been dilutive, an immaterial amount of interest expense, net of tax, related to the convertible trust preferred securities would have been added back to net income attributable to common shareholders for the diluted EPS computation for the years presented.

(b)

Options to purchase shares of common stock, non-participating performance- and certain time-based restricted stock, and other dilutive securities that were outstanding at period ends were not included in the computation of diluted EPS or in the above anti-dilution table because their exercise or conversion prices were greater than the average market price of the common shares during the respective periods.