Common and Common Equivalent Shares

9 Months Ended

Sep. 30, 2015

8.	Common and Common Equivalent Shares:

Basic net income per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share is calculated by dividing net income by the weighted average number of common and potential common shares outstanding during the period. Potential common shares consist of outstanding restricted and deferred stock and stock options calculated using the treasury stock method. Under the treasury stock method, the Company includes the assumed excess tax benefits related to the potential exercise or vesting of its stock-based awards using the difference between the average market price for the applicable period less the option price, if any, and the fair value of the stock-based award on the date of grant multiplied by the applicable tax rate.

The calculation of shares used in the basic and diluted net income per common share calculation for the three and nine months ended September 30, 2015 and 2014 is as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014

Weighted average number of common shares outstanding		92,949		99,088		93,195		98,791
Weighted average number of dilutive common share equivalents		697		1,057		928		1,377

Weighted average number of common and common equivalent shares outstanding		93,646		100,145		94,123		100,168

Antidilutive securities not included in the diluted net income per common share calculation		—		—		—		—