Earnings Per Share

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share

NOTE B – Earnings per Share

Earnings per share (“EPS”) are calculated by dividing net income attributable to common stockholders by the weighted-average number of shares of Common Stock outstanding during the period. Diluted EPS are calculated similarly but includes potential dilution from the exercise of stock options and stock awards, except when the effect would be anti-dilutive. A total of 2.0 million and 1.0 million options and stock awards outstanding during the three and nine months ended September 30, 2015 and 2014, respectively were excluded from the calculation because the effect was anti-dilutive.  

The table below sets forth the reconciliation between net income and the weighted average shares outstanding used for calculating basic and diluted EPS for the three and nine months ended September 30, 2015 and 2014:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
Earnings (numerator)
Net income attributable to common stockholders	$	2,837	$	19,427	$	29,047	$	47,014
Shares (denominator)
Weighted average common shares outstanding (basic)		48,586		47,548		48,114		47,047
Dilutive effect of stock options and stock awards outstanding		978		1,188		1,237		1,338
Adjusted weighted average common shares outstanding (diluted)		49,564		48,736		49,351		48,385
Earnings per share attributable to common stockholders
Basic	$	0.06	$	0.41	$	0.60	$	1.00
Diluted	$	0.06	$	0.40	$	0.59	$	0.97