Earnings Per Share

9 Months Ended

Sep. 30, 2017

Basic earnings per share is computed on the basis of the weighted average number of common shares outstanding during the period. Diluted earnings per share includes the dilutive effect of stock options and other stock units. The following table sets forth the computation of basic and diluted earnings per share:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Numerator
Numerator for basic and diluted earnings per share - Net income attributable to common stockholders	$	61,687	$	49,303	$	137,558	$	179,057
Denominator
Denominator for basic earnings per share - weighted average shares outstanding	52,042		54,055		52,555		54,869
Effect of dilutive securities - stock options and other stock units	393		625		491		590
Denominator for diluted earnings per share - adjusted weighted average shares outstanding	52,435		54,680		53,046		55,459
Earnings per share:
Basic	$	1.19	$	0.91	$	2.62	$	3.26
Diluted	$	1.18	$	0.90	$	2.59	$	3.23

All options to purchase shares of the Company’s common stock were included in the computation of diluted earnings per share as the options’ exercise prices were less than the average market price of the common shares at both September 30, 2017 and 2016.