Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE

v3.8.0.1
EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 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):
 
 
 
Years Ended December 31,
 
 
2017
 
2016
 
2015
Basic weighted average number of shares outstanding
 
40,287

 
39,976

 
39,593

Effect of dilutive securities:
 
 
 
 
 
 
Convertible debt (1)
 
1,311

 
2,176

 
2,176

Stock options and unvested restricted stock
 
630

 
433

 
395

Diluted average shares outstanding
 
42,228

 
42,585

 
42,164

Net earnings as reported
 
$
143,255

 
$
149,541

 
$
128,738

Interest attributable to convertible senior notes, net of income taxes
 
941

 
1,615

 
1,597

Net earnings for diluted earnings per share
 
$
144,196

 
$
151,156

 
$
130,335

Basic earnings per share
 
$
3.56

 
$
3.74

 
$
3.25

Diluted earnings per share (1)
 
$
3.41

 
$
3.55

 
$
3.09

Antidilutive stock options not included in the calculation of diluted earnings per share
 
2

 
4

 
—

 
(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 Notes were outstanding during the period. All of the Convertible Notes were retired in 2017.