Earnings Per Share

9 Months Ended

Sep. 30, 2015

8. Earnings Per Share

The following is a reconciliation of the basic and diluted earnings per share computation:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
	(shares in thousands)				(shares in thousands)
Net income	$	23,288	$	10,623	$	59,522	$	51,429

Shares of common stock and common stock equivalents:
Weighted averages shares used in basic computation		136,582		131,778		135,527		131,418
Dilutive effect of stock options and unvested restricted stock		1,599		6,568		2,306		7,058

Weighted averages shares used in dilutive computation		138,181		138,346		137,833		138,476

Basic earnings per share	$	0.17	$	0.08	$	0.44	$	0.39
Dilutive earnings per share	$	0.17	$	0.08	$	0.43	$	0.37

Diluted earnings per share reflects the reduction in earnings per share assuming options or other contracts to issue common stock were exercised or converted into common stock under the treasury stock method. The dilutive effect of options to purchase shares of common stock and restricted shares were included in the diluted earnings per share in the three and nine months ended September 30, 2015, and 2014, respectively. 243 and 624 restricted shares were determined to be anti-dilutive and were not included in the calculation of diluted earnings per share for the three months ended September 30, 2015 and 2014, respectively. 836 and 1,197 restricted shares were determined to be anti-dilutive and were not included in the calculation of diluted earnings per share for the nine months ended September 30, 2015 and 2014, respectively.