Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.8.0.1
EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2018
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 March 31,
 
2018
 
2017
Basic weighted average number of shares outstanding
40,488

 
40,178

Effect of dilutive securities:
 
 
 
Convertible debt (1)
—

 
2,176

Unvested restricted stock
652

 
454

Diluted average shares outstanding
41,140

 
42,808

Net earnings as reported
$
43,874

 
$
23,572

Interest attributable to Convertible Notes, net of income taxes (1)
—

 
387

Net earnings for diluted earnings per share
$
43,874

 
$
23,959

Basic earnings per share
$
1.08

 
$
0.59

Diluted earnings per share (1)
$
1.07

 
$
0.56

Antidilutive stock not included in the calculation of diluted earnings per share
1

 
14

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