Earnings Per Share
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share
EARNINGS PER SHARE

Earnings per share amounts are presented using two different computations.  Basic earnings per share excludes dilutive effects of certain securities or contracts, such as stock options, and is computed by dividing income available to each class of common stockholders on an as if distributed basis by the weighted-average number of common shares outstanding for the period.  Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock, that then shared in the distributed earnings of each class of common stock. U.S. GAAP requires a two-class presentation for the Company’s two classes of common stock (Note 6, Information Regarding Controlling Stockholder).  Accordingly, the earnings per share for both Class A and Class B are presented.  The following table sets forth the computations of basic and diluted earnings per share.
 
 
Years Ended December 31,
 
2016
 
2015
 
2014
 
Class A
 
Class B
 
Class A
 
Class B
 
Class A
 
Class B
 
(In thousands except per share amounts)
Numerator for Basic and Diluted Earnings Per Share:
 
 
 
 
 
 
 
 
 
 
 
Net income
$
100,892

 
 
 
98,396

 
 
 
105,588

 
 
Dividends – Class A shares
(1,237
)
 
 
 
(1,237
)
 
 
 
(1,237
)
 
 
Dividends – Class B shares
(36
)
 
 
 
(36
)
 
 
 
(36
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Undistributed income
$
99,619

 
 
 
97,123

 
 
 
104,315

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allocation of net income:
 

 
 
 
 

 
 
 
 

 
 
Dividends
$
1,237

 
36

 
1,237

 
36

 
1,237

 
36

Allocation of undistributed income
96,802

 
2,817

 
94,376

 
2,747

 
101,365

 
2,950

 
 
 
 
 
 
 
 
 
 
 
 
Net income
$
98,039

 
2,853

 
95,613

 
2,783

 
102,602

 
2,986

 
 
 
 
 
 
 
 
 
 
 
 
Denominator:
 

 
 

 
 

 
 

 
 

 
 

Basic earnings per share - weighted-average shares
3,436

 
200

 
3,436

 
200

 
3,436

 
200

Effect of dilutive stock options
1

 
—

 
1

 
—

 
1

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Diluted earnings per share - adjusted weighted-average shares for assumed conversions
3,437

 
200

 
3,437

 
200

 
3,437

 
200

 
 
 
 
 
 
 
 
 
 
 
 
Basic earnings per share
$
28.53

 
14.27

 
27.83

 
13.91

 
29.87

 
14.93

 
 
 
 
 
 
 
 
 
 
 
 
Diluted earnings per share
$
28.53

 
14.27

 
27.82

 
13.91

 
29.85

 
14.93



Stock options that were outstanding during the years ended December 31, 2016 and 2015, but were not included in the computation of diluted earnings per share because the effect was anti-dilutive were approximately 17,200 and 21,000 respectively.