Earnings Per Share

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The following table details the reconciliation of basic earnings per share to diluted earnings per share:

	Three months ended September 30,				Nine months ended September 30,
	2017		2016		2017		2016
Numerator for basic and diluted earnings per share:
Net income	$	38,263	$	35,430	$	102,147	$	78,661
Denominator:
Weighted-average basic common shares outstanding	37,391		36,433		37,238		36,438
Assumed conversion of dilutive securities:
Stock options	1,951		2,629		2,028		2,576
Denominator for diluted earnings per share    - Adjusted weighted-average shares	39,342		39,062		39,266		39,014
Earnings per common share:
Basic	$	1.02	$	0.97	$	2.74	$	2.16
Diluted	$	0.97	$	0.91	$	2.60	$	2.02

For the three and nine months ended September 30, 2017, stock options representing the right to purchase common stock of approximately 1,499,000 shares and 1,303,000 shares, respectively, were not included in the computation of diluted earnings per share because their inclusion would have had an anti-dilutive effect.  For the three and nine months ended September 30, 2016, stock options representing the right to purchase common stock of approximately 741,000 shares and 769,000 shares, respectively, were not included in the computation of diluted earnings per share because their inclusion would have had an anti-dilutive effect.