Earnings Per Share

12 Months Ended

Dec. 31, 2016

12. Earnings Per Share

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


	Year Ended December 31,
	2016		2015		2014
Net income	$	26,155	$	80,052	$	61,051


	(shares in thousands)
Shares of common stock and common stock equivalents:
Weighted average common shares used in basic computation		134,401		137,242		131,770
Dilutive effect of common stock equivalents		1,138		1,583		6,781

Weighted average common shares used in dilutive computation		135,539		138,825		138,551

Basic earnings per share	$	0.19	$	0.58	$	0.46
Diluted earnings per share	$	0.19	$	0.58	$	0.44

In the table above, unvested share-based awards that have non-forfeitable rights to dividends or dividend equivalents are treated as a separate class of securities in calculating EPS.

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 (if dilutive) under the treasury stock method. The Company excluded 996,000 and 1,247,000 common stock equivalents from its computation of diluted earnings per share for the years ended December 31, 2016 and 2014, respectively, as they were determined to be anti-dilutive. There were no anti-dilutive common stock equivalents included in the calculation of diluted earnings per share for the year ended December 31, 2015.