Earnings per Common Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings per Common Share

Earnings per Common Share

Basic earnings per share (EPS) is computed by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted EPS is similarly calculated except that the common shares outstanding for the period is increased using the treasury stock method to reflect the potential dilution that could occur if outstanding stock appreciation rights were exercised and stock awards were vested at the end of the applicable period.

The following is a calculation of basic and diluted weighted-average shares outstanding:

	Three Months Ended   March 31,
(In thousands)	2015	2014
Weighted-average shares - basic	413,344	416,900
Dilution effect of stock appreciation rights and stock awards at end of period	1,427	1,613
Weighted-average shares - diluted	414,771	418,513
Weighted-average stock awards and shares excluded from diluted EPS due to the anti-dilutive effect	401	272