Earnings per Common Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings per Common Share

Earnings per Common Share

Basic EPS is computed by dividing net income (the numerator) by the weighted-average number of common shares outstanding for the period (the denominator). Diluted EPS is similarly calculated except that the denominator 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 vested at the end of the applicable period.

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

	December 31,
(In thousands)	2014	2013	2012
Weighted-average shares—basic	415,840	420,188	419,075
Dilution effect of stock appreciation rights and stock awards at end of period	1,761	2,187	2,912
Weighted-average shares—diluted	417,601	422,375	421,987
Weighted-average shares excluded from diluted earnings per share due to the anti-dilutive effect	20	5	85