Net Income Per Common Share

3 Months Ended

Mar. 31, 2017

Note 10 - Net Income Per Common Share

The following table displays a reconciliation of the information used in calculating basic and diluted earnings per common share for the three months ended March 31, 2017 and 2016.



	Three Months Ended March 31,
(in thousands, except per share data)	2017		2016
Basic Net Income Per Common Share:
Net income available to common shareholders	$	69,298	49,972
Weighted average common shares outstanding	122,300		127,227
Net income per common share, basic	$	0.57	0.39
Diluted Net Income Per Common Share:
Net income available to common shareholders	$	69,298	49,972
Weighted average common shares outstanding	122,300		127,227
Potentially dilutive shares from outstanding equity-based awards	759		630
Weighted average diluted common shares	123,059		127,857
Net income per common share, diluted	$	0.56	0.39

Basic net income per common share is computed by dividing net income by the average common shares outstanding for the period. Diluted net income per common share reflects the dilution that could occur if securities or other contracts to issue common stock were exercised or converted. The dilutive effect of outstanding options and restricted share units is reflected in diluted net income per common share, unless the impact is anti-dilutive, by application of the treasury stock method.

As of March 31, 2017 and 2016, there were 2.2 million and 2.5 million, respectively, potentially dilutive shares related to Warrants and stock options to purchase shares of common stock that were outstanding during 2017 and 2016, but were not included in the computation of diluted net income per common share because the effect would have been anti-dilutive.