v3.7.0.1
Earnings Per Common Share
3 Months Ended
Mar. 31, 2017
Earnings Per Common Share [Abstract]  
Earnings Per Common Share
Earnings Per Common Share
Basic earnings per common share (EPS) is computed by dividing net income by the weighted-average number of shares of common stock outstanding. For purposes of calculating diluted EPS, the denominator reflects the potential dilution that could occur if stock options, unvested restricted stock, unvested restricted stock units or other contracts to issue common stock were exercised or converted into common stock, using the treasury stock method.
The following table summarizes the calculation of basic and diluted EPS for the three months ended March 31, 2017 and 2016:
 
Three months ended
 
March 31,
 
2017
 
2016
Net income used for basic and diluted calculation
$
170

 
$
92

Shares used in computing earnings per common share—basic
224

 
225

Weighted-average effect of dilutive securities:
 
 
 
Stock awards
2

 
2

Shares used in computing earnings per common share—diluted
226

 
227

Earnings per common share:
 
 
 
Basic
$
0.76

 
$
0.41

Diluted
$
0.75

 
$
0.41


We exclude from EPS the weighted-average number of securities whose effect is anti-dilutive. Excluded from the calculation of EPS for the three months ended March 31, 2017 and 2016 were 6 and 4 shares of common stock, respectively, because their effect was anti-dilutive.