Net Income Per Share

3 Months Ended

Mar. 31, 2017

13)	Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share:


	Three Months Ended March 31,
	2017		2016
Numerator:
Net income	$	65,060	$	17,563

Denominator:
Shares used in net income per common share – basic		53,769,000		53,235,000
Effect of dilutive securities:
Restricted stock units, stock appreciation rights and shares issued under employee stock purchase plan		1,189,000		328,000

Shares used in net income per common share – diluted		54,958,000		53,563,000

Net income per common share:
Basic	$	1.21	$	0.33
Diluted	$	1.18	$	0.33

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 (restricted stock units and stock appreciation rights) had been converted to such common shares, and if such assumed conversion is dilutive.

For the three months ended March 31, 2017 and 2016, there were no weighted-average shares of restricted stock units or stock appreciation rights that would have had an anti-dilutive effect on EPS, and would thus need to be excluded from the computation of diluted weighted-average shares.