Net Income Per Share

12 Months Ended

Dec. 31, 2016

20) Net Income Per Share

Basic earnings per share (“EPS”), is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding during the period. The computation of diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding (using the treasury stock method), if securities containing potentially dilutive common shares (stock options, restricted stock units, stock appreciation rights and employee stock purchase plan) had been converted to such common shares, and if such assumed conversion is dilutive.

The following is a reconciliation of basic to diluted net income per share:


	Years Ended December 31,
	2016		2015		2014
Numerator:
Net income	$	104,809	$	122,297	$	115,778

Denominator:
Shares used in net income per common share — basic		53,472,000		53,282,000		53,232,000
Effect of dilutive securities		579,000		278,000		283,000

Shares used in net income per common share — diluted		54,051,000		53,560,000		53,515,000

Net income per common share:
Basic	$	1.96	$	2.30	$	2.17
Diluted	$	1.94	$	2.28	$	2.16

As of December 31, 2016, RSUs relating to an aggregate of approximately 1,326,000 shares were outstanding. There were no stock options outstanding as of December 31, 2016. As of December 31, 2015 and 2014, stock options and RSUs relating to an aggregate of approximately 733,000 and 747,000 shares of the Company’s common stock, respectively, were outstanding. In 2016, 2015 and 2014, the potential dilutive effect of 453, 0 and 600 weighted average shares, respectively, of RSUs and stock options were excluded from the computation of diluted weighted-average shares outstanding as the shares would have an anti-dilutive effect on EPS.