Earnings Per Common Share

6 Months Ended

Jun. 30, 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 using the treasury stock method.

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Numerator—basic and diluted
Net income	$	26,547	$	21,709	$	56,728	$	45,395
Denominator
Weighted average number of common shares outstanding — basic		40,820		40,792		40,663		40,607
Effect of dilutive stock options		316		451		223		414
Effect of dilutive restricted shares		463		453		487		508
Weighted average number of common shares outstanding — diluted		41,599		41,696		41,373		41,529
Earnings per common share — basic	$	0.65	$	0.53	$	1.40	$	1.12
Earnings per common share — diluted	$	0.64	$	0.52	$	1.37	$	1.09
Antidilutive stock options and restricted shares		1,374		1,524		2,016		1,849