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Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data (Unaudited)

16. Selected Quarterly Financial Data (Unaudited)

 

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   

 

Fiscal Quarters Year Ended December 31, 2014

   First     Second     Third     Fourth  

Revenues, net

   $ 253,908      $ 273,502      $ 295,283      $ 376,697   

Operating income

     114,136        134,484        144,207        172,622   

Net income

     75,109        88,549        95,509        109,540   

Earnings per share:

        

Basic earnings per share

   $ 0.91      $ 1.07      $ 1.14      $ 1.25   

Diluted earnings per share

     0.88        1.03        1.11        1.21   

Weighted average shares outstanding:

        

Basic weighted average shares outstanding

     82,737        82,996        83,611        87,877   

Diluted weighted average shares outstanding

     85,695        85,817        86,134        90,240   

The sum of the quarterly earnings per common share amounts for 2015 and 2014 may not equal the earnings per common share for the 2015 and 2014 due to rounding.

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

The fourth quarter of 2014 includes unusual favorable items totaling $29.5 million. This represents a $28.1 million favorable impact of fair value adjustments recorded related to contingent consideration arrangements for the Company’s acquisition of VB in Brazil and the net favorable impact of $1.4 million from the reversal of other various contingent liabilities related to the Company’s acquisitions of DB and VB in Brazil. The fourth quarter of 2014 also includes a $15.8 million loss on extinguishment of debt related to the Company’s write-off of debt issuance costs associated with the refinancing of the Existing Credit Facility and entry into the New Credit Agreement, along with the Company’s acquisition of Comdata in November 2014.