Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Computation of earnings per share and reconciliation of basic and diluted weighted average common shares outstanding

The table below presents the computation of earnings per share, including the reconciliation of basic and diluted weighted average shares outstanding (in thousands, except per share data):

	Year Ended December 31,
	2018		2017		2016
Net income	$	234,461	$	191,339	$	148,603
Net loss attributable to noncontrolling interest	—		294		352
Net income attributable to Pool Corporation	$	234,461	$	191,633	$	148,955
Weighted average shares outstanding:
Basic	40,311		40,838		41,872
Effect of dilutive securities:
Stock options and employee stock purchase plan (1)	1,382		1,611		1,112
Diluted	41,693		42,449		42,984
Earnings per share:
Basic	$	5.82	$	4.69	$	3.56
Diluted	$	5.62	$	4.51	$	3.47
Anti-dilutive stock options excluded from diluted earnings per share computations (2)	—		108		1

⁽¹⁾  As a result of the adoption of ASU 2016-09, the calculation of the effect of dilutive securities for 2018 and 2017 excludes any derived excess tax benefits or deficiencies from assumed future proceeds, resulting in an increase in diluted weighted average shares outstanding as compared to 2016.

⁽²⁾  Since these options have exercise prices that are higher than the average market prices of our common stock, including them in the calculation would have an anti-dilutive effect on earnings per share.