Earnings Per Share ("EPS")

9 Months Ended

Sep. 30, 2019

EARNINGS PER SHARE (“EPS”)

Basic EPS is computed by dividing reported net income available to common stockholders by weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing reported net income available to common stockholders by the weighted average common shares and all potential dilutive common shares outstanding during the period.

The computation of earnings per share is as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands, except per share data)	2019		2018		2019		2018
Net income available to common stockholders	$	81,826	$	55,193	$	185,119	$	160,067

Average common shares outstanding	96,608		92,290		95,090		92,246
Average potential dilutive common shares	360		551		360		551
Average diluted common shares	96,968		92,841		95,450		92,797

Basic earnings per share	$	0.85	$	0.60	$	1.95	$	1.74
Diluted earnings per share	$	0.84	$	0.59	$	1.94	$	1.72

There were no stock options excluded from the earnings per share calculation due to the related exercise price exceeding the average market price for the three and nine months ended September 30, 2019 and 2018.