Earnings Per Common Share

12 Months Ended

Dec. 31, 2017

Basic earnings per common share are calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per common share adjust basic earnings per common share for the effects of potentially dilutive common shares. Potentially dilutive common shares include the dilutive effects of shares issuable under our equity compensation plans, including stock options and restricted stock, each using the treasury stock method.



	Year Ended December 31,
	2017		2016		2015
Numerator — basic and diluted
Net income	$	107,962	$	85,520	$	66,053
Denominator
Weighted average number of common shares outstanding — basic	38,697		40,943		40,846
Effect of dilutive stock options	117		281		388
Effect of dilutive restricted shares	378		485		495
Weighted average number of common shares outstanding — diluted	39,192		41,709		41,729
Earnings per common share — basic	$	2.79	$	2.09	$	1.62
Earnings per common share — diluted	$	2.75	$	2.05	$	1.58
Antidilutive stock options and restricted shares	1,561		1,404		1,734