15. Earnings Per Share

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


	Year Ended December 31,
	2017		2016		2015
Net income	$	27,199	$	26,155	$	80,052


	(shares in thousands)
Shares of common stock and common stock equivalents:
Weighted average common shares used in basic computation		134,614		134,401		137,242
Dilutive effect of common stock equivalents		1,389		1,138		1,583

Weighted average common shares used in dilutive computation		136,003		135,539		138,825

Basic earnings per share	$	0.20	$	0.19	$	0.58
Diluted earnings per share	$	0.20	$	0.19	$	0.58

In the table above, unvested share-based awards that have non-forfeitable rights to dividends or dividend equivalents are treated as a separate class of securities in calculating basic EPS.

Diluted earnings per share is calculated under both the treasury stock and two-class method and reflects the reduction in earnings per share assuming options or other contracts to issue common stock were exercised or converted into common stock (if dilutive). The calculation that results in the most dilutive earnings per share amount for common stock is reported in the Company’s consolidated financial statements. The Company excluded 1,593,000 and 996,000 common stock equivalents from its computation of diluted earnings per share for the years ended December 31, 2017 and 2016, respectively, as they were determined to be anti-dilutive. There were no anti-dilutive common stock equivalents excluded from the calculation of diluted earnings per share for the year ended December 31, 2015.