EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2015


	EARNINGS PER SHARE

Basic earnings per share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities include outstanding stock options, unvested restricted stock and unvested RSUs. The dilutive effect of potentially dilutive securities is reflected in diluted earnings per share by application of the treasury stock method.

The following table sets forth the computation of basic and diluted earnings per share of common stock as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Numerator for common earnings per share:
Net income	$	22,873	$	19,040	$	56,818	$	51,218
Numerator for basic and diluted earnings per share	$	22,873	$	19,040	$	56,818	$	51,218

Denominator for basic earnings per share:
Weighted average common shares outstanding	49,043		47,315		48,506		47,058
Effect of dilutive securities:
Stock options, RSUs and performance-based awards	3,301		2,514		3,249		2,472
Denominator for diluted earnings per share	52,344		49,829		51,755		49,530

Net income per share:
Basic	$	0.47	$	0.40	$	1.17	$	1.09
Diluted	$	0.44	$	0.38	$	1.10	$	1.03

During the three and nine months ended September 30, 2015, a total of 2,143 and 1,456 shares underlying equity-based awards, respectively, were outstanding but were not included in the computation of diluted earnings per share because the effect was anti-dilutive. During the three and nine months ended September 30, 2014, a total of 2,691 and 2,152 shares underlying equity-based awards, respectively, were outstanding but were not included in the computation of diluted earnings per share because the effect was anti-dilutive.