Earnings Per Share

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



	Years Ended December 31,
	2018			2017			2016
Numerator for basic and diluted net income per common share:
Net income attributable to j2 Global, Inc. common shareholders	$	128,687		$	139,425		$	152,439
Net income available to participating securities^(a)	(1,885		)	(1,792		)	(2,242		)
Net income available to j2 Global, Inc. common shareholders	126,802			137,633			150,197
Denominator:
Weighted-average outstanding shares of common stock	47,950,746			47,586,242			47,668,357
Dilutive effect of:
Equity incentive plans	146,906			228,166			201,660
Convertible debt^(b)	830,139			854,619			93,209
Common stock and common stock equivalents	48,927,791			48,669,027			47,963,226
Net income per share:
Basic	$	2.64		$	2.89		$	3.15
Diluted	$	2.59		$	2.83		$	3.13


^(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 10 - Long Term Debt)

For the years ended December 31, 2018, 2017 and 2016, 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.