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Earnings Per Share
 3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share

(7) Earnings Per Share

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

 

 

 

Three months ended March 31,

 

 

 

 

2016

 

 

2015

 

 

Numerator for basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

Net income

 

$

17,079

 

 

$

17,273

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average basic common shares outstanding

 

 

36,549

 

 

 

33,562

 

 

Assumed conversion of dilutive securities:

 

 

 

 

 

 

 

 

 

Stock options

 

 

2,008

 

 

 

2,333

 

 

Denominator for diluted earnings per share

   - Adjusted weighted-average shares

 

 

38,557

 

 

 

35,895

 

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

Basic

 

$

0.47

 

 

$

0.51

 

 

Diluted

 

$

0.44

 

 

$

0.48

 

 

 

For the three months ended March 31, 2016 and March 31, 2015, stock options representing the right to purchase common stock of approximately 762,000 shares and 648,000 shares, respectively, were not included in the computation of diluted earnings per share because their inclusion would have had an anti-dilutive effect.