Calculation of Earnings per Share

9 Months Ended

Sep. 30, 2015

Basic earnings per share is calculated by dividing net income by the weighted-average number of shares outstanding during the period. Diluted earnings per share is calculated by dividing net income attributable to VCA Inc. by the weighted-average number of common shares outstanding, after giving effect to all dilutive potential common shares outstanding during the period. Basic and diluted earnings per share were calculated as follows (in thousands, except per share amounts):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Net income attributable to VCA Inc.	$	54,854	$	27,452	$	147,454	$	107,079
Weighted-average common shares outstanding:
Basic	80,815		86,274		81,700		87,543
Effect of dilutive potential common shares:
Stock options	338		324		338		285
Non-vested shares and units	642		762		706		837
Diluted	81,795		87,360		82,744		88,665
Basic earnings per common share	$	0.68	$	0.32	$	1.80	$	1.22
Diluted earnings per common share	$	0.67	$	0.31	$	1.78	$	1.21

For the three months ended September 30, 2015 and 2014 there were no potential common shares excluded from the computation of diluted earnings per share.

For the nine months ended September 30, 2015, an immaterial amount of potential common shares were excluded from the computation of diluted earnings per share because their inclusion would have had an antidilutive effect. For the nine months ended September 30, 2014 there were no potential common shares excluded from the computation of diluted earnings per share.