Earnings Per Share

3 Months Ended

Mar. 31, 2017

11. Earnings Per Share

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


	Three Months Ended March 31,
	2017		2016
Net income	$	6,880	$	12,072


	(shares in thousands)

Shares of common stock and common stock equivalents:
Weighted average common shares used in basic computation		134,385		135,467
Dilutive effect of common stock equivalents		1,124		990

Weighted average common shares used in dilutive computation		135,509		136,457

Basic earnings per share	$	0.05	$	0.09
Diluted earnings per share	$	0.05	$	0.09

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 1,549,440 and 2,017,005 common stock equivalents from its computation of diluted earnings per share for the three months ended March 31, 2017 and 2016, respectively, as they were determined to be anti-dilutive.

As further discussed in Note 12, the Company adopted ASU 2016-09 prospectively during the three-months ended March 31, 2017 which had the effect of reducing basic and diluted EPS by $0.01.