Earnings Per Common Share

3 Months Ended

Mar. 31, 2016

2. Earnings Per Common Share

Basic earnings per common share are calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per common share adjust basic earnings per common share for the effects of potentially dilutive common shares. Potentially dilutive common shares include the dilutive effects of shares issuable under our equity compensation plans, including stock options and restricted stock, each using the treasury stock method.

	Three Months Ended March 31,
	2016		2015
Numerator—basic and diluted
Net income	$	30,181	$	23,686
Denominator
Weighted average number of common shares outstanding — basic		40,506		40,384
Effect of dilutive stock options		131		376
Effect of dilutive restricted shares		511		564
Weighted average number of common shares outstanding — diluted		41,148		41,324
Earnings per common share — basic	$	0.75	$	0.59
Earnings per common share — diluted	$	0.73	$	0.57
Antidilutive stock options and restricted shares		2,657		2,173