EARNINGS PER SHARE

Basic and diluted earnings per common share (“EPS”) for the three and six months ended June 30, 2018 and 2017 were:



	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
	(in thousands, except per share data)
Numerator:
Net income attributable to common stockholders	$	30,426		$	18,086		$	42,949		$	25,241
Less: Net income allocable to Series A convertible preferred stockholders ⁽¹⁾	(5,121		)	(2,843		)	(7,205		)	(3,971		)
Adjusted net income available to common stockholders - basic and diluted	$	25,305		$	15,243		$	35,744		$	21,270
Denominator:
Weighted average common shares outstanding - basic	68,153			73,953			68,427			73,882
Plus: dilutive effect of stock options and unvested restricted stock units	3,314			619			2,035			743
Weighted average common shares outstanding - diluted	71,467			74,572			70,462			74,625

Net income per common share:
Basic	$	0.37		$	0.21		$	0.52		$	0.29
Diluted	$	0.35		$	0.20		$	0.51		$	0.29

⁽¹⁾Represents the amount which would have been paid to preferred stockholders in the event the Company had declared a dividend on its common stock.

For the three months ended June 30, 2018 and 2017, 0.1 million and 2.2 million options and restricted stock units, respectively, were excluded from the calculation of diluted EPS under the two-class method because the effect was anti-dilutive. For the six months ended June 30, 2018 and 2017, 0.2 million and 0.8 million options and restricted stock units, respectively, were excluded from the calculation of diluted EPS under the two-class method because the effect was anti-dilutive. If converted, Series A Preferred Stock would represent approximately 16.8% of the Company’s common stock outstanding, or 13.8 million additional common shares, as of June 30, 2018.