XML 86 R10.htm IDEA: XBRL DOCUMENT v2.4.1.9
Net Income Per Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Net Income Per Share
Net Income Per Share
Basic net income per share is calculated as net income divided by the weighted average number of shares outstanding.
Diluted net income per share is calculated as net income divided by the weighted average number of shares outstanding plus the incremental number of shares added as a result of converting common stock equivalents, calculated using the treasury stock method. The Corporation’s common stock equivalents consist of outstanding stock options, restricted stock, restricted stock units ("RSUs") and performance based restricted stock units ("PSUs"). PSUs are required to be included in weighted average shares outstanding if performance measures, as defined in each PSU award agreement, are met as of the end of the period.
A reconciliation of weighted average shares outstanding used to calculate basic net income per share and diluted net income per share follows:
 
Three months ended March 31
 
2015
 
2014
 
(in thousands)
Weighted average shares outstanding (basic)
178,471

 
189,467

Impact of common stock equivalents
986

 
1,022

Weighted average shares outstanding (diluted)
179,457

 
190,489


For the three months ended March 31, 2015 and 2014, 2.1 million and 3.1 million shares issuable under stock options, respectively, were excluded from the diluted net income per share computation as their effect would have been anti-dilutive.