Note 12 - Earnings Per Share

12 Months Ended

Dec. 31, 2015

12.	EARNINGS PER SHARE :

Basic earnings per share (“EPS”) were computed by dividing income from continuing operations by the weighted average number of shares of common stock outstanding during the period. Diluted EPS differs from basic EPS due to the assumed conversions of potentially dilutive options and restricted shares that were outstanding during the period. The Company’s Class A Common Stock and Class B Common Stock have equal claims on earnings of the Company. The following is a reconciliation of the numerators and the denominators of the basic and diluted per share computations for income from continuing operations (in thousands, except per share amounts):

	2015		2014		2013

Numerator-
Numerator for basic and diluted earnings per share -
Net income available to common shareholders	$	66,053	$	79,957	$	49,217
Denominator-
Denominator for basic earnings per share – weighted average shares		40,271		39,783		39,405
Effect of dilutive securities-
Employee and director stock options and restricted share awards		822		1,111		1,101
Denominator for diluted earnings per share - adjusted weighted average shares and assumed conversions		41,093		40,894		40,506
Basic earnings per common share	$	1.64	$	2.01	$	1.25
Diluted earnings per common share and common share equivalents	$	1.61	$	1.96	$	1.22

Options to purchase shares of common stock that were outstanding for the years ended December 31, 2015, 2014 and 2013 that were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive are as follows (in thousands):

	2015		2014		2013
Options		1,186		482		928
Total anti-dilutive securities		1,186		482		928