XML 34 R15.htm IDEA: XBRL DOCUMENT v3.3.1.900
Earnings Per Share
12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share

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.