15. Earnings Per Share
Basic earnings per share is computed by dividing income available to Common stockholders by the weighted average number of Common shares outstanding. Diluted earnings per share includes the effect of potential shares outstanding from dilutive stock options and dilutive preferred securities. After-tax distributions on preferred securities are added to net income to arrive at earnings used in the diluted earnings per share calculation. The table below shows the calculation components of earnings per share for both basic and diluted earnings per share.

(Amounts in thousands)				2000				1999				1998
				Income		Weighted Average Shares		Income		Weighted Average Shares		Income		Weighted Average Shares
Earnings used for
	basic EPS			$	83,494	33,255		$	107,121	33,880		$	108,545	35,090
Effect of dilutive
	securities:
		Stock options			—	38			—	390			—	627
		Preferred
			securities		11,104	5,901			11,148	5,901			2,499	1,216
Earnings used for
	diluted EPS			$	94,598	39,194		$	118,269	40,171		$	111,044	36,933

Antidilutive options available were 2,172,689, 764,804 and 118,936 for the fiscal years ended 2000, 1999 and 1998, respectively.