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Earnings Per Share
 3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share
Note 11: Earnings Per Share
The Two-Class Method is an earnings allocation formula that treats a participating security, as having rights to earnings that otherwise would have been available to common shareholders and assumes all earnings for the period are distributed. Our unvested restricted stock awards granted are participating securities as they entitle recipients to receive nonforfeitable dividends during the vesting period on a basis equivalent to the dividends paid to holders of common stock.
Our calculation of basic and diluted earnings per share is as follows:
 
Three Months Ended
 
March 31,
In thousands, except per share data
2016
 
2015
Numerator
 
 
 
Income from continuing operations
$
38,451

 
$
42,155

Loss from discontinued operations, net of tax
—

 
(6,556
)
Net income
$
38,451

 
$
35,599

 
 
 
 
Income from continuing operations
$
38,451

 
$
42,155

Dividends and undistributed income allocated to participating shares
(1,465
)
 
(1,380
)
Income from continuing operations to common shares - basic
36,986

 
40,775

Effect of reallocating undistributed income from continuing operations to participating shares
2

 
1

Income from continuing operations to common shares - diluted
$
36,988

 
$
40,776

 
 
 
 
Denominator
 
 
 
Weighted average common shares - basic
16,094

 
18,269

Dilutive effect of share-based payment awards
42

 
17

Weighted average common shares - diluted(1)
16,136

 
18,286

 
 
 
 
Basic earnings (loss) per common share:
 
 
 
Continuing operations
$
2.30

 
$
2.23

Discontinued operations
—

 
(0.36
)
Basic earnings per common share
$
2.30

 
$
1.87

 
 
 
 
Diluted earnings (loss) per common share:
 
 
 
Continuing operations
$
2.29

 
$
2.23

Discontinued operations
—

 
(0.36
)
Diluted earnings per common share
$
2.29

 
$
1.87

 
 
 
 
Stock options and share-based awards not included in diluted EPS calculation because their effect would have be antidilutive
328

 
3

(1)
Participating securities were included in the calculation of diluted earnings per share using the two-class method, as this calculation was more dilutive than the calculation using the treasury stock method.