Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)



Fiscal Quarters Year Ended December 31, 2016*	First		Second		Third		Fourth
Revenues, net	$	414,262	$	417,905	$	484,426	$	514,953
Operating income	175,955		171,168		191,055		215,975
Net income	111,090		116,253		129,618		95,424
Earnings per share:
Basic earnings per share	$	1.20	$	1.25	$	1.40	$	1.03
Diluted earnings per share	1.17		1.22		1.36		1.00
Weighted average shares outstanding:
Basic weighted average shares outstanding	92,516		92,665		92,631		92,574
Diluted weighted average shares outstanding	95,030		95,279		95,307		95,235



Fiscal Quarters Year Ended December 31, 2015	First		Second		Third		Fourth
Revenues, net	$	416,166	$	404,605	$	451,493	$	430,601
Operating income	163,774		169,151		188,460		146,149
Net income	94,153		98,678		116,770		52,830
Earnings per share:
Basic earnings per share	$	1.03	$	1.07	$	1.27	$	0.57
Diluted earnings per share	1.00		1.05		1.24		0.56
Weighted average shares outstanding:
Basic weighted average shares outstanding	91,750		91,904		92,110		92,321
Diluted weighted average shares outstanding	93,934		94,050		94,157		94,350

*2016 quarterly amounts reflect the impact of the Company's adoption of Accounting Standards Update 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payments Accounting, to simplify several aspects of the accounting for share-based compensation, including the income tax consequences.

The sum of the quarterly earnings per common share amounts for 2016 and 2015 may not equal the earnings per common share for the 2016 and 2015 due to rounding.

The fourth quarter of 2016 includes unusual net unfavorable items totaling $4.3 million. This represents a $36.1 million impairment charge related to the Company’s minority investment in Masternaut, partially offset by a $31.8 million decrease in non-cash stock based compensation expense.

The fourth quarter of 2015 includes unusual unfavorable items totaling $74.4 million. This represents a $40.0 million impairment charge related to the Company’s minority investment in Masternaut and a $34.4 million increase in non-cash stock based compensation expense.