Earnings Per Share

The components of basic and diluted earnings per share are as follows (in thousands, except share and per share data):



	Three Months Ended March 31,
	2018			2017
Numerator for basic and diluted net income per common share:
Net income attributable to j2 Global, Inc. common shareholders	$	18,871		$	25,820
Net income available to participating securities ^(a)	(217		)	(309		)
Net income available to j2 Global, Inc. common shareholders	$	18,654		$	25,511
Denominator:
Weighted-average outstanding shares of common stock	47,873,007			47,463,231
Dilutive effect of:
Equity incentive plans	123,305			242,920
Convertible debt ^(b)	710,405			1,059,880
Common stock and common stock equivalents	48,706,717			48,766,031
Net income per share:
Basic	$	0.39		$	0.54
Diluted	$	0.38		$	0.52


^(a)	Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid).


^(b)	Represents the incremental shares issuable upon conversion of the Convertible Notes due June 15, 2029 by applying the treasury stock method when the average stock price exceeds the conversion price of the Convertible Notes (see Note 8 - Long Term Debt).

For the three months ended March 31, 2018 and 2017, there were zero options outstanding, respectively, which were excluded from the computation of diluted earnings per share because the exercise prices were greater than the average market price of the common stock.