Earnings Per Share (Notes)

9 Months Ended

Sep. 30, 2015

Basic earnings per share is computed based on the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares outstanding and the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Potential common shares consist of: i) employee stock purchase plan shares; ii) unvested time-based and performance-based restricted stock units, along with related dividend equivalent rights; and iii) shares issuable pursuant to an equity forward sale agreement (EFSA). See Note 6, Equity, for additional information on the EFSA and its impact on earnings per share. Unvested performance-based restricted stock units and associated dividend equivalent rights are included in dilutive potential common shares only after the performance criteria have been met. For the three and nine month periods ended September 30, 2015, unvested performance-based restricted stock units and related dividend equivalent rights of approximately 308,000 were excluded from the dilutive calculation because the performance goals had not been met, with 361,000 excluded for the three and nine month periods ended September 30, 2014.

Net income attributable to common shareholders is the same for both the basic and diluted earnings per share computations. The reconciliations of the denominators of the basic and diluted earnings per share computations are as follows (in thousands):



	Three Months Ended September 30,		Nine Months Ended September 30,
	2015	2014	2015	2014
Weighted-average common shares outstanding—basic	88,766	78,203	82,633	78,170
Dilutive effect of potential common shares	—	2,022	—	1,807
Weighted-average common shares outstanding—diluted	88,766	80,225	82,633	79,977