Net Income Per Share

3 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share

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 March 31,
(in thousands, except per share data)	2016			2015
Net income	$	62,070		$	56,951
Net income attributable to unvested awarded performance stock	(1,451		)	(1,363		)
Net income attributable to common shares	$	60,619		$	55,588
Weighted average number of common shares outstanding – basic	138,793			142,777
Less unvested awarded performance stock included in weighted average number of common shares outstanding – basic	(3,245		)	(3,417		)
Weighted average number of common shares outstanding for basic earnings per common share	135,548			139,360
Dilutive effect of stock options	1,392			2,127
Weighted average number of shares outstanding – diluted	136,940			141,487
Net income per share:
Basic	$	0.45		$	0.40
Diluted	$	0.44		$	0.39