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Earnings Per Common Share | 12 Months Ended
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Dec. 31, 2015
Earnings Per Share [Abstract] |
Earnings Per Common Share | Earnings Per Common Share Basic earnings per common share is determined by dividing net income, less preferred stock dividends, by the weighted average number of common shares outstanding during the period. Diluted earnings per share is determined by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding, assuming all potentially dilutive shares were issued. We apply the treasury stock method to determine the dilutive weighted average common shares represented by the unvested restricted stock units and ESPP shares. The diluted earnings per share calculation assumes the conversion of 100% of our outstanding Preferred Stock on an as if converted basis. Accordingly, the numerator is also adjusted to include the earnings allocated to the noncontrolling interest after taking into account the tax effect of such exchange. The following table summarizes the basic and diluted earnings per share calculations (in thousands, except per share amounts):
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
Numerator - Basic |  |  |  |  |
Income from continuing operations | $ | 106,110 |  |  | $ | 229,312 |  |  | $ | 308,195 |
Less: Net income attributable to noncontrolling interest | (27,000 | ) |  | (70,275 | ) |  | (95,368 | )
Discontinued operations attributable to noncontrolling interest | — |  |  | — |  |  | 10,935 |
Less: Preferred stock dividends | (2 | ) |  | (1 | ) |  | — |
Income from continuing operations |  |  |  |  |
attributable to common shareholders | 79,108 |  |  | 159,036 |  |  | 223,762 |
Income from discontinued operations attributable to FINV | — |  |  | — |  |  | 31,700 |
Net income available to common shareholders | $ | 79,108 |  |  | $ | 159,036 |  |  | $ | 255,462 |
Numerator - Diluted |  |  |  |  |
Income from continuing operations |  |  |  |  |
attributable to common shareholders | $ | 79,108 |  |  | $ | 159,036 |  |  | $ | 223,762 |
Add: Net income attributable to noncontrolling interest (1) | 24,784 |  |  | 54,866 |  |  | 77,106 |
Add: Preferred stock dividends | 2 |  |  | 1 |  |  | — |
Diluted income from continuing operations |  |  |  |  |
applicable to common shareholders | 103,894 |  |  | 213,903 |  |  | 300,868 |
Income from discontinued operations attributable to FINV | — |  |  | — |  |  | 42,635 |
Dilutive net income available to common shareholders | $ | 103,894 |  |  | $ | 213,903 |  |  | $ | 343,503 |
Denominator |  |  |  |  |
Basic weighted average common shares | 154,662 |  |  | 153,814 |  |  | 132,257 |
Exchange of noncontrolling interest for common stock (Note 13) | 52,976 |  |  | 52,976 |  |  | 52,976 |
Restricted stock units | 1,512 |  |  | 1,038 |  |  | 273 |
Stock to be issued pursuant to ESPP | 2 |  |  | — |  |  | — |
Diluted weighted average common shares | 209,152 |  |  | 207,828 |  |  | 185,506 |
Basic earnings per common share: |  |  |  |  |
Continuing operations | $ | 0.51 |  |  | $ | 1.03 |  |  | $ | 1.69 |
Discontinued operations | — |  |  | — |  |  | 0.24 |
Total | $ | 0.51 |  |  | $ | 1.03 |  |  | $ | 1.93 |
Diluted earnings per common share: |  |  |  |  |
Continuing operations | $ | 0.50 |  |  | $ | 1.03 |  |  | $ | 1.62 |
Discontinued operations | — |  |  | — |  |  | 0.23 |
Total | $ | 0.50 |  |  | $ | 1.03 |  |  | $ | 1.85 |
(1) | Adjusted for the additional tax expense upon the assumed conversion of the Preferred Stock | $ | 2,216 |  |  | $ | 15,409 |  |  | $ | 7,327 |

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