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Basic and Diluted Earnings per Share (Tables)
 12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data) for the periods indicated:

 

 

 

Years Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

17,643

 

 

$

90,908

 

 

$

105,931

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares of class A common stock

 

 

9,409

 

 

 

9,390

 

 

 

9,320

 

Weighted average common shares of class B common stock

 

 

2,035

 

 

 

2,035

 

 

 

2,035

 

Total weighted average common stock shares outstanding

 

 

11,444

 

 

 

11,425

 

 

 

11,355

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Employee stock options

 

 

103

 

 

 

91

 

 

 

184

 

Adjusted weighted average shares

 

 

11,547

 

 

 

11,516

 

 

 

11,539

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

1.54

 

 

$

7.96

 

 

$

9.33

 

Diluted earnings per share

 

$

1.53

 

 

$

7.89

 

 

$

9.18