Earnings Per Share

12 Months Ended

Dec. 31, 2015

8. Earnings Per Share

The following is a reconciliation of the basic and diluted earnings per share computation:


	Year Ended December 31,
	2015		2014		2013
	(shares in thousands)
Net income	$	80,052	$	61,051	$	51,537

Shares of common stock and common stock equivalents:
Weighted average shares used in basic computation		137,242		131,770		126,651
Dilutive effect of common stock equivalents		1,583		6,781		13,146

Weighted average shares used in dilutive computation		138,825		138,551		139,797

Basic earnings per share	$	0.58	$	0.46	$	0.41
Diluted earnings per share	$	0.58	$	0.44	$	0.37

Diluted earnings per share reflects the reduction in earnings per share assuming options or other contracts to issue common stock were exercised or converted into common stock under the treasury stock method. The dilutive effect of common stock equivalents was included in the diluted earnings per share in the years ended December 31, 2015, 2014 and 2013, respectively. 1,247 common stock equivalents were determined to be anti-dilutive and were not included in the calculation of diluted earnings per share for the year ended December 31, 2014. There were no anti-dilutive common stock equivalents included in the calculation of diluted earnings per share for the years ended December 31, 2015 and 2013.