Stockholders' Equity

Common Stock

The following table provides a reconciliation of the beginning and ending shares of common stock outstanding for the six months ended June 30, 2018 and the year ended December 31, 2017:



	June 30, 2018	December 31, 2017
Balance, beginning of period	125,131,593	116,416,900
Issuance of common stock	15,547	8,395,607
Nonvested share-based awards, net of withheld shares	86,555	319,086
Balance, end of period	125,233,695	125,131,593

At-The-Market Equity Offering Program

No shares were sold under the Company's At-the-Market Equity Offering Program during the six months ended June 30, 2018. The Company had 5,868,697 authorized shares remaining available to be sold under the current sales agreements as of July 27, 2018.

Common Stock Dividends

During the six months ended June 30, 2018, the Company declared and paid common stock dividends totaling $0.60 per share. On July 31, 2018, the Company declared a quarterly common stock dividend in the amount of $0.30 per share payable on August 30, 2018 to stockholders of record on August 15, 2018.

Accumulated Other Comprehensive Income (Loss)

As of June 30, 2018, the Company had four outstanding interest rate swaps to hedge the variable cash flows associated with existing variable-rate debt. The Company continues to amortize the 2015 settlement of forward-starting interest rate swaps that were entered into in connection with the issuance of the Company's Senior Notes due 2025. This amount will be reclassified out of Accumulated Other Comprehensive Income (Loss) impacting net income over the 10-year term of the associated senior note issuance. See Note 4 for more information regarding the Company's derivative instruments.

The following table represents the changes in balances of each component and the amounts reclassified out of accumulated other comprehensive income (loss) related to the Company during the six months ended June 30, 2018 and 2017:



	Forward-starting Interest Rate Swaps
(Dollars in thousands)	2018			2017
Beginning balance	$	(1,299	)	$	(1,401	)
Gains arising during the period related to active interest rate swaps	1,030			—
Amounts reclassified from accumulated other comprehensive (income) loss	274			85
Net accumulated other comprehensive income	1,304			85
Ending balance	$	5		$	(1,316	)

The following table represents the details regarding the reclassifications from Accumulated other comprehensive income (loss) during the six months ended June 30, 2018:



Details about accumulated other comprehensive income (loss) components	Amount reclassified from accumulated other comprehensive income (loss)		Affected line item in the statement where net income is presented
(Dollars in thousands)
Amounts reclassified from accumulated other comprehensive income (loss) related to settled interest rate swaps	$	84	Interest Expense
Amounts reclassified from accumulated other comprehensive income (loss) related to current interest rate swaps	190		Interest Expense
	$	274

Earnings Per Common Share

The Company uses the two-class method of computing net earnings per common shares. Nonvested share-based awards containing non-forfeitable rights to dividends are considered participating securities pursuant to the two-class method. The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2018 and 2017.



	Three Months Ended June 30,						Six Months Ended June 30,
(Dollars in thousands, except per share data)	2018			2017			2018			2017
Weighted average Common Shares outstanding
Weighted average Common Shares outstanding	125,217,707			116,528,181			125,192,557			116,499,667
Nonvested shares	(1,933,073		)	(1,807,082		)	(1,921,489		)	(1,801,448		)
Weighted average Common Shares outstanding—Basic	123,284,634			114,721,099			123,271,068			114,698,219
Weighted average Common Shares outstanding—Basic	123,284,634			114,721,099			123,271,068			114,698,219
Dilutive effect of nonvested share-based awards	—			861,037			—			796,283
Dilutive effect of employee stock purchase plan	36,371			92,228			53,092			102,327
Weighted average Common Shares outstanding—Diluted	123,321,005			115,674,364			123,324,160			115,596,829
Net Income	$	37,729		$	25,224		$	46,908		$	57,070
Dividends paid on nonvested share-based awards	(582		)	—			(1,160		)	—
Net income applicable to common stockholders	$	37,147		$	25,224		$	45,748		$	57,070
Basic earnings per common share - Net income	$	0.30		$	0.22		$	0.37		$	0.50
Diluted earnings per common share - Net income	$	0.30		$	0.22		$	0.37		$	0.49

Incentive Plans

A summary of the activity under the Company's share-based incentive plans for the three and six months ended June 30, 2018 and 2017 is included in the table below.



	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Share-based awards, beginning of period	1,930,342		1,814,039		1,907,645		1,786,497
Granted	30,989		23,231		107,751		103,615
Vested	(23,231	)	(39,584	)	(77,296	)	(92,426	)
Share-based awards, end of period	1,938,100		1,797,686		1,938,100		1,797,686

During the six months ended June 30, 2018 and 2017, the Company withheld 21,196 and 16,581 shares of common stock, respectively, from participants to pay estimated withholding taxes related to shares that vested.

In addition to the share-based incentive plans, the Company maintains the 2000 Employee Stock Purchase Plan (the "Purchase Plan"). A summary of the activity under the Purchase Plan for the three and six months ended June 30, 2018 and 2017 is included in the table below.



	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Outstanding and exercisable, beginning of period	366,731		365,618		318,100		316,321
Granted	—		—		203,836		206,824
Exercised	(1,870	)	(7,595	)	(10,705	)	(19,030	)
Forfeited	(14,326	)	(13,451	)	(24,906	)	(27,233	)
Expired	—		—		(135,790	)	(132,310	)
Outstanding and exercisable, end of period	350,535		344,572		350,535		344,572