Earnings Per Share

9 Months Ended

Sep. 30, 2015

Basic earnings per share is calculated by dividing net income attributable to common stockholders by the weighted average shares outstanding. Diluted earnings per share is calculated by dividing net income attributable to common stockholders by the total weighted average shares of common stock outstanding and common stock equivalents. Common stock equivalents are comprised of dilutive potential shares from restricted stock unit awards. Common stock equivalents are excluded from the computation if their effect is anti-dilutive. Diluted earnings per share is computed using the treasury stock method.

Anti-dilutive common stock equivalents of approximately 90,000 and 36,000 shares, respectively, were excluded from the computation for the three and nine months ended September 30, 2015. No anti-dilutive common stock equivalents were excluded from the computation for the three and nine months ended September 30, 2014.

The following is a reconciliation of the income and share data used in the basic and diluted earnings per share computations for the three and nine months ended September 30, 2015 and 2014 (in thousands, except per share data):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Net income	$	16,964	$	18,037	$	58,509	$	60,561
Less: Net loss (income) attributable to redeemable noncontrolling interest	129		147		163		(749		)
Net income attributable to common stockholders	$	17,093	$	18,184	$	58,672	$	59,812
Basic weighted average shares outstanding	45,500		44,839		45,402		44,766
Dilutive potential shares from restricted stock units	330		850		471		802
Diluted weighted average shares outstanding	45,830		45,689		45,873		45,568
Basic earnings per share attributable to common stockholders	$	0.38	$	0.41	$	1.29	$	1.34
Diluted earnings per share attributable to common stockholders	$	0.37	$	0.40	$	1.28	$	1.31