Earnings Per Share

3 Months Ended

Mar. 31, 2017

15.EARNINGS PER SHARE

Basic earnings per share was computed by dividing net income from continuing operations attributable to common shareholders by the weighted-average number of shares of Common Stock outstanding for each respective period. Diluted earnings per share was calculated by dividing net income from continuing operations attributable to common shareholders by the weighted-average number of shares of Common Stock outstanding adjusted for any dilutive Common Stock equivalents, including unvested restricted stock and shares issuable upon exercise of stock options as determined under the “If-Converted” method and also Common Stock warrants as determined under the “Treasury Stock” method.

The following table sets forth basic and diluted net income per common share for the three months ended March 31, 2017 and 2016 (in thousands, except per share data):



	For the three months
	ended March 31,
	2017		2016
Numerator:
Net income	$	37,598	$	53,639
Denominator:
Basic weighted-average shares outstanding		121,049		125,398
Dilutive impact of stock options and restricted shares		685		726
Diluted weighted-average shares outstanding		121,734		126,124
Net income per common share:
Basic	$	0.31	$	0.43
Diluted	$	0.31	$	0.43

For the three months ended March 31, 2017 and 2016, the diluted weighted average number of common shares outstanding excluded an additional 2.4 million shares issuable upon exercise of the Company’s stock options because the impact would be anti-dilutive.