Earnings per Share

9 Months Ended

Sep. 30, 2016

Earnings per Share

Net income is divided by the weighted average number of common shares outstanding during the period to calculate basic earnings per share. Diluted earnings per share is calculated to give effect to stock options and restricted share awards. The following table summarizes the dilutive effect of restricted shares and options to purchase common stock for the three and nine months ended September 30, 2016 and 2015.



	Three months ended September 30,		Nine months ended September 30,
	2016	2015	2016	2015
Weighted average common shares—basic	45,435,936	45,157,412	45,381,592	45,102,067
Dilutive effect of restricted share awards	244,757	216,642	248,942	218,949
Dilutive effect of stock options	79,762	125,050	83,339	118,602
Weighted average common shares—diluted	45,760,455	45,499,104	45,713,873	45,439,618