Earnings per Share/Capital Stock: (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of reconciliation of Registrant's net income and weighted average Common Shares outstanding for calculating basic net income per share


Basic:	For The Three Months Ended September 30,				For The Nine Months Ended September 30,
(in thousands, except per share amounts)	2020		2019		2020		2019
Net income	$	26,530	$	28,006	$	66,214	$	67,642
Less: (a) Distributed earnings to common shareholders	12,356		11,234		34,848		31,466
Distributed earnings to participating securities	43		50		116		137
Undistributed earnings	14,131		16,722		31,250		36,039

(b) Undistributed earnings allocated to common shareholders	14,083		16,647		31,146		35,882
Undistributed earnings allocated to participating securities	48		75		104		157

Total income available to common shareholders, basic (a)+(b)	$	26,439	$	27,881	$	65,994	$	67,348

Weighted average Common Shares outstanding, basic	36,886		36,835		36,877		36,804

Basic earnings per Common Share	$	0.72	$	0.76	$	1.79	$	1.83

Schedule of reconciliation of Registrant's net income and weighted average Common Shares outstanding for calculating diluted net income per share

The following is a reconciliation of Registrant’s net income and weighted average Common Shares outstanding for calculating diluted net income per share:


Diluted:	For The Three Months Ended September 30,				For The Nine Months Ended September 30,
(in thousands, except per share amounts)	2020		2019		2020		2019
Common shareholders earnings, basic	$	26,439	$	27,881	$	65,994	$	67,348
Undistributed earnings for dilutive stock-based awards	48		75		104		157
Total common shareholders earnings, diluted	$	26,487	$	27,956	$	66,098	$	67,505

Weighted average common shares outstanding, basic	36,886		36,835		36,877		36,804
Stock-based compensation (1)	116		161		113		156
Weighted average common shares outstanding, diluted	37,002		36,996		36,990		36,960

Diluted earnings per Common Share	$	0.72	$	0.76	$	1.79	$	1.83

(1) In applying the treasury stock method of reflecting the dilutive effect of outstanding stock-based compensation in the calculation of diluted EPS, 8,556 stock options at September 30, 2019, respectively, were deemed to be outstanding in accordance with accounting guidance on earnings per share. All of the 127,234 and 165,783 restricted stock units at September 30, 2020 and 2019, respectively, were included in the calculation of diluted EPS for the three months ended September 30, 2020 and 2019.