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Earnings Per Share
 3 Months Ended
Mar. 31, 2016
Earnings Per Share  
Earnings Per Share

 

Note 2.  Earnings Per Share

 

Basic earnings per share is based on the weighted average shares of common stock outstanding during the period. Diluted earnings per share assumes the weighted average dilutive effect of common share equivalents outstanding during the period applied to the company’s basic earnings per share. Common share equivalents represent potentially dilutive stock options, restricted stock units and deferred stock units; and are excluded from the computation in periods in which they have an anti-dilutive effect. There were no anti-dilutive common share equivalents at or for the three months ended March 31, 2016, and 2015.

 

The following table presents a reconciliation of the numerators and the denominators of the company’s basic and diluted earnings per share computations for the three month periods ended March 31, 2016, and 2015 (in thousands, except per share data):

 

 

 

Three Months Ended March 31,

 

 

 

2016

 

2015

 

 

 

Net Income
(Numerator)

 

Shares
(Denominator)

 

Per Share
Amount

 

Net Income
(Numerator)

 

Shares
(Denominator)

 

Per Share
Amount

 

Basic earnings per share

 

$
62,737 

 
243,202 

 

$
0.26 

 

$
30,761 

 
241,535 

 

$
0.13 

 

Dilutive common share equivalents

 

—

 
1,406 

 

 

 

—

 
1,332 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share

 

$
62,737 

 
244,608 

 

$
0.26 

 

$
30,761 

 
242,867 

 

$
0.13