Net Income Per Share

9 Months Ended

Sep. 30, 2015

Basic EPS is computed based on the weighted average number of common shares (including participating securities) issued and outstanding during the period. Diluted EPS is computed based on the weighted average number of common shares issued and outstanding plus equivalent shares, assuming the exercise of stock options. The dilutive effect of stock options is computed by application of the treasury-stock method. The following is a reconciliation between basic and diluted weighted average shares outstanding:



	For the three months ended September 30,						For the nine months ended September 30,
(in thousands, except per share data)	2015			2014			2015			2014
Net income	$	67,427		$	68,331		$	185,383		$	182,501
Net income attributable to unvested awarded performance stock	(1,565		)	(1,681		)	(4,370		)	(4,604		)
Net income attributable to common shares	$	65,862		$	66,650		$	181,013		$	177,897
Weighted average number of common shares outstanding – basic	140,955			144,469			141,517			144,909
Less unvested awarded performance stock included in weighted average number of common shares outstanding – basic	(3,271		)	(3,554		)	(3,336		)	(3,656		)
Weighted average number of common shares outstanding for basic earnings per common share	137,684			140,915			138,181			141,253
Dilutive effect of stock options	2,357			2,049			2,265			1,849
Weighted average number of shares outstanding – diluted	140,041			142,964			140,446			143,102
Net income per share:
Basic	$	0.48		$	0.47		$	1.31		$	1.26
Diluted	$	0.47		$	0.47		$	1.29		$	1.24