XML 41 R19.htm IDEA: XBRL DOCUMENT v3.7.0.1
COMPUTATION OF EARNINGS PER COMMON SHARE
 3 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
COMPUTATION OF EARNINGS PER COMMON SHARE
COMPUTATION OF EARNINGS PER COMMON SHARE

The Company has a share-based compensation plan under which employees, non-employee directors, and consultants may be granted share-based awards, including shares of restricted stock on which non-forfeitable dividends are paid on unvested shares. As such, shares of restricted stock are considered participating securities under the two-class method of calculating earnings per share. The two-class method of calculating earnings per share did not have a material impact on the Company's earnings per share calculation for the three month periods ending June 30, 2016 and 2017.

The following table sets forth the computation of basic and diluted earnings per common share for the three months ended June 30, 2016 and 2017:
 
 
Three Months Ended 
 June 30,
(in thousands, except per share data)
 
2016
 
2017
Numerator:
 
 
 
 
Net income
 
$
20,387

 
$
18,828

 
 
 
 
 
Denominator:
 
 
 
 
Weighted average common shares-basic
 
32,243

 
32,506

Dilutive effect of employee equity incentive plans
 
575

 
705

Weighted average common shares-diluted
 
32,818

 
33,211

 
 
 
 
 
Basic earnings per common share
 
$
0.63

 
$
0.58

Diluted earnings per common share
 
$
0.62

 
$
0.57

 
 
 
 
 
Potentially dilutive securities excluded from diluted earnings per common share because their effect is anti-dilutive
 
1,023

 
457