Net Income Per Common Share

3 Months Ended

Mar. 31, 2016

Note 9 - 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, 2016 and 2015.



	Three Months Ended March 31,
(in thousands, except per share data)	2016		2015
Basic Net Income Per Common Share:
Net income available to common shareholders	$	49,972	$	51,404
Weighted average common shares outstanding	127,227		134,933
Net income per common share, basic	0.39		0.38
Diluted Net Income Per Common Share:
Net income available to common shareholders	$	49,972	$	51,404
Weighted average common shares outstanding	127,227		134,933
Potentially dilutive shares from outstanding equity-based awards	630		811
Weighted average diluted common shares	127,857		135,744
Net income per common share, diluted	0.39		0.38

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, 2016 and 2015, there were 2.5 million and 3.1 million, respectively, potentially dilutive shares related to common stock options and Warrants to purchase shares of common stock that were outstanding during 2016 and 2015, but were not included in the computation of diluted net income per common share because the effect would have been anti-dilutive.