Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2016

Earnings per Share

Schedule of basic and diluted net income per share

The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share amounts):

	March 31,
	2016		2015
Net income	$	19,858	$	17,552
Less net income allocated to participating securities:
Non-forfeitable dividends on participating securities		(101)		(123)
Total net income allocated to participating securities		(101)		(123)
Less net income allocated to preferred stockholders:
Preferred stock dividends		—		(818)
Total net income allocated to preferred stockholders		—		(818)
Net income available to common stockholders		19,757		16,611
Effect of dilutive securities:
Convertible preferred securities		—		818
Total effect of dilutive securities		—		818
Net income for diluted net income per share	$	19,757	$	17,429
Shares for basic net income per share		37,446		35,277
Effect of dilutive securities:
Stock options		13		15
Convertible preferred securities		—		2,000
Total effect of dilutive securities		13		2,015
Shares for diluted net income per share		37,459		37,292
Basic net income per share	$	0.53	$	0.47
Diluted net income per share	$	0.53	$	0.47