Earnings Per Common Share

3 Months Ended

Mar. 31, 2018

Basic earnings per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per common share adjusts 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 shares, each using the treasury stock method.



	Three Months Ended March 31,
	2018		2017
Numerator — basic and diluted
Net income	$	38,945	$	14,016
Denominator
Weighted average number of common shares outstanding — basic	36,700		40,527
Effect of dilutive stock options	303		194
Effect of dilutive restricted shares	609		524
Weighted average number of common shares outstanding — diluted	37,612		41,245
Earnings per common share — basic	$	1.06	$	0.35
Earnings per common share — diluted	$	1.04	$	0.34
Antidilutive stock options and restricted shares	613		903