EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2016

3.	EARNINGS PER SHARE

The Company considers its unvested share based payment awards, which contain non-forfeitable rights to dividends, participating securities, and includes such participating securities in its computation of earnings per share pursuant to the two-class method. Basic earnings per share for the two classes of stock (common stock and unvested restricted stock) is calculated by dividing net income by the weighted average number of shares of common stock and unvested restricted stock outstanding during the reporting period. Diluted earnings per share is calculated using the weighted average number of shares of common stock plus the potentially dilutive effect of common equivalent shares outstanding determined under both the two class method and the treasury stock method.

The following table presents computations of basic and diluted earnings per share under the two class method:


	Year ended December 31,
	2014			2015			2016
Numerator:
Net income attributable to Cinemark Holdings, Inc.	$	192,610		$	216,869		$	255,091
Earnings allocated to participating share-based awards ⁽¹⁾		(1,345	)		(1,306	)		(1,187	)

Net income attributable to common stockholders	$	191,265		$	215,563		$	253,904

Denominator (shares in thousands):
Basic weighted average common stock outstanding		114,653			115,080			115,508
Common equivalent shares for restricted stock units		313			319			275

Diluted		114,966			115,399			115,783

Basic earnings per share attributable to common stockholders	$	1.66		$	1.87		$	2.19

Diluted earnings per share attributable to common stockholders	$	1.66		$	1.87		$	2.19

⁽¹⁾	For the years ended December 31, 2014, 2015 and 2016, a weighted average of approximately 810 shares, 699 shares and 542 shares, of unvested restricted stock, respectively, are considered participating securities.