Earnings Per Common Share

9 Months Ended

Sep. 30, 2015

Earnings Per Common Share

2. Earnings Per Common Share

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.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Numerator—basic and diluted
Net income	$	10,309	$	22,522	$	55,704	$	57,886
Denominator
Weighted average number of common shares outstanding—basic		41,094		39,789		40,771		39,637
Effect of dilutive stock options		426		414		418		353
Effect of dilutive restricted shares		462		616		493		618
Weighted average number of common shares outstanding—diluted		41,982		40,819		41,682		40,608
Earnings per common share—basic	$	0.25	$	0.57	$	1.37	$	1.46
Earnings per common share—diluted	$	0.25	$	0.55	$	1.34	$	1.43
Antidilutive stock options and restricted shares		1,360		2,741		1,685		3,185