XML 40 R28.htm IDEA: XBRL DOCUMENT v3.10.0.1
Net Income Per Share of Class A and Class B Common Stock (Tables)
 9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
Following is a reconciliation of net income and weighted average shares used for our basic earnings per share (“EPS”) and diluted EPS (in thousands, except per share amounts):
Three Months Ended September 30,
 
2018
 
2017
(in thousands, except per share data)
 
Class A
 
Class B
 
Class A
 
Class B
Net income applicable to common stockholders - basic
 
$
89,254

 
$
3,853

 
$
49,687

 
$
2,199

Reallocation of net income as a result of conversion of dilutive stock options
 
1

 
(1
)
 
1

 
(1
)
Reallocation of net income due to conversion of Class B to Class A common shares outstanding
 
288

 
—

 
285

 
—

Conversion of Class B common shares into Class A common shares
 
3,551

 
—

 
1,908

 
—

Effect of dilutive stock options on net income
 
13

 
(13
)
 
5

 
(5
)
Net income applicable to common stockholders - diluted
 
$
93,107

 
$
3,839

 
$
51,886

 
$
2,193

 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding – basic
 
23,164

 
1,000

 
23,948

 
1,060

Conversion of Class B common shares into Class A common shares
 
1,000

 
—

 
1,060

 
—

Effect of dilutive stock options on weighted average common shares
 
94

 
—

 
68

 
—

Weighted average common shares outstanding – diluted
 
24,258

 
1,000

 
25,076

 
1,060

 
 
 
 
 
 
 
 
 
Net income per common share - basic
 
$
3.85

 
$
3.85

 
$
2.07

 
$
2.07

Net income per common share - diluted
 
$
3.84

 
$
3.84

 
$
2.07

 
$
2.07

  
Three Months Ended September 30,
 
2018
 
2017
Diluted EPS
 
Class A
 
Class B
 
Class A
 
Class B
Antidilutive Securities
 
 
 
 
 
 
 
 
Shares issuable pursuant to stock options not included since they were antidilutive
 
33

 
—

 
9

 
—

Nine Months Ended September 30,
 
2018
 
2017
(in thousands, except per share data)
 
Class A
 
Class B
 
Class A
 
Class B
Net income applicable to common stockholders - basic
 
$
197,485

 
$
8,343

 
$
147,876

 
$
7,937

Reallocation of distributed net income as a result of conversion of dilutive stock options
 
4

 
(4
)
 
3

 
(3
)
Reallocation of distributed net income due to conversion of Class B to Class A common shares outstanding
 
844

 
—

 
1,006

 
—

Conversion of Class B common shares into Class A common shares
 
7,466

 
—

 
6,909

 
—

Effect of dilutive stock options on net income
 
29

 
(29
)
 
19

 
(19
)
Net income applicable to common stockholders - diluted
 
$
205,828

 
$
8,310

 
$
155,813

 
$
7,915

 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding – basic
 
23,670

 
1,000

 
23,812

 
1,278

Conversion of Class B common shares into Class A common shares
 
1,000

 
—

 
1,278

 
—

Effect of employee stock purchases and restricted stock units on weighted average common shares
 
97

 
—

 
68

 
—

Weighted average common shares outstanding – diluted
 
24,767

 
1,000

 
25,158

 
1,278

 
 
 
 
 
 
 
 
 
Net income per common share - basic
 
$
8.34

 
$
8.34

 
$
6.21

 
$
6.21

Net income per common share - diluted
 
$
8.31

 
$
8.31

 
$
6.19

 
$
6.19

Nine Months Ended September 30,
 
2018
 
2017
Diluted EPS
 
Class A
 
Class B
 
Class A
 
Class B
Antidilutive Securities
 
 
 
 
 
 
 
 
Shares issuable pursuant to stock options not included since they were antidilutive
 
30

 
—

 
10

 
—