Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.7.0.1
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
Basic and diluted earnings per common share were calculated as follows (in thousands, except per share amounts):
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
Basic weighted average number of shares outstanding
40,317

 
40,012

 
40,248

 
39,926

Effect of dilutive securities:
 
 
 
 
 
 
 
Convertible senior notes (1)
1,991

 
2,176

 
2,083

 
2,176

Unvested restricted stock
473

 
345

 
505

 
375

Diluted average shares outstanding
42,781

 
42,533

 
42,836

 
42,477

Net earnings as reported
$
41,580

 
$
39,878

 
$
65,152

 
$
60,847

Interest attributable to convertible senior notes, net of income taxes
354

 
400

 
739

 
801

Net earnings for diluted earnings per share
$
41,934

 
$
40,278

 
$
65,891

 
$
61,648

Basic earnings per share
$
1.03

 
$
1.00

 
$
1.62

 
$
1.52

Diluted earnings per share (1)
$
0.98

 
$
0.95

 
$
1.54

 
$
1.45

Antidilutive stock not included in the calculation of diluted earnings per share
59

 
289

 
2

 
19

 
(1)
In accordance with ASC 260-10, Earnings Per Share, ("ASC 260-10") we calculate the dilutive effect of convertible securities using the "if-converted" method based on the number of days the convertible senior notes were outstanding during the period.