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Earnings Per Common Share
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Common Share
Note T — Earnings Per Common Share
Summarized basic and diluted earnings per common share were calculated as follows: 
 
Year Ended December 31,
 (In thousands, except per share data)
2016
 
2015
 
2014
Numerator:
 
 
 
 
 
Net earnings (loss)
$
(105,195
)
 
$
(953,520
)
 
$
96,422

Denominator:
 
 
 
 
 
Weighted-average shares outstanding
53,121

 
53,050

 
52,850

Effect of dilutive stock awards
—

 
—

 
276

Weighted-average dilutive shares
53,121

 
53,050

 
53,126

 
 
 
 
 
 
Basic (loss) earnings per share
$
(1.98
)
 
$
(17.97
)
 
$
1.82

Diluted (loss) earnings per share
$
(1.98
)
 
$
(17.97
)
 
$
1.81

Diluted loss per common share for the year ended December 31, 2016, did not include the effect of dilutive stock awards because the result would have been anti-dilutive. For 2016, 2015, and 2014, the number of stock options that were outstanding but not included in the computation of diluted earnings per common share because their exercise price was greater than the average market price of the common stock and, therefore anti-dilutive, were 3,072,181, 2,585,711, and 2,496,147, respectively.