EARNINGS PER SHARE:

The following table reconciles income (numerator) and shares (denominator) used in our computations of basic and diluted earnings per share for the periods presented (in thousands):



	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Income (Numerator)
Net income	$	29,309		$	46,035		$	73,304		$	116,738
Net income attributable to noncontrolling interests	(1,268		)	(1,390		)	(2,139		)	(14,891		)
Numerator for basic and diluted earnings per common share available to common shareholders	$	28,041		$	44,645		$	71,165		$	101,847

Shares (Denominator)
Weighted-average common shares outstanding	102,224			102,649			102,062			97,668
Dilutive effect of stock-settled appreciation rights and outstanding stock options	762			1,016			890			1,039
Weighted-average common and common equivalent shares outstanding	102,986			103,665			102,952			98,707

The following table shows the weighted-average stock-settled appreciation rights and outstanding stock options (in thousands) that are excluded from the calculation of diluted earnings per common share as the inclusion of such shares would be anti-dilutive:



	Three Months Ended June 30,		Six Months Ended June 30,
	2018	2017	2018	2017
Weighted-average stock-settled appreciation rights and outstanding stock options excluded	1,600	—	1,050	—