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Earnings Per Share
 3 Months Ended
Mar. 31, 2017
Earnings Per Share  
Net Income Per Common Share

9.Earnings 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, 

 

 

 

 

2017

 

2016

 

 

Net income

  

$

21,513

  

$

19,858

  

 

Less net income allocated to participating securities:

 

 

 

 

 

 

 

 

Non-forfeitable dividends on participating securities

 

 

(97)

 

 

(101)

 

 

Total net income allocated to participating securities

 

 

(97)

 

 

(101)

 

 

Net income available to common stockholders

 

 

21,416

 

 

19,757

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

Participating securities

 

 

97

 

 

 —

(1)

 

Total effect of dilutive securities

 

 

97

 

 

 —

 

 

Net income for diluted net income per share

 

$

21,513

 

$

19,757

 

 

 

 

 

 

 

 

 

 

 

Shares for basic net income per share

 

 

39,366

 

 

37,446

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

Stock options

 

 

11

 

 

13

 

 

Performance-based stock units

 

 

75

 

 

 —

 

 

Participating securities

 

 

160

 

 

 —

(1)

 

Total effect of dilutive securities

 

 

246

 

 

13

 

 

Shares for diluted net income per share

 

 

39,612

 

 

37,459

 

 

 

 

 

 

 

 

 

 

 

Basic net income per share

 

$

0.54

 

$

0.53

 

 

Diluted net income per share

 

$

0.54

 

$

0.53

(1)

 

(1)

For the three months ended March 31, 2016, the participating securities have been excluded from the computation of diluted net income per share as such inclusion would be anti-dilutive.