Earnings Per Common Share

12 Months Ended

Dec. 31, 2016

3. 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.

	Year Ended December 31,
	2016		2015		2014
Numerator — basic and diluted
Net income	$	85,520	$	66,053	$	58,807
Denominator
Weighted average number of common shares outstanding — basic		40,943		40,846		39,726
Effect of dilutive stock options		281		388		375
Effect of dilutive restricted shares		485		495		628
Weighted average number of common shares outstanding — diluted		41,709		41,729		40,729
Earnings per common share — basic	$	2.09	$	1.62	$	1.48
Earnings per common share — diluted	$	2.05	$	1.58	$	1.44
Antidilutive stock options and restricted shares		1,404		1,734		2,967