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Earnings Per Share
12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
11. Earnings Per Share

 

Set forth below is a reconciliation of the numerator and denominator for basic and diluted earnings per share calculations for the periods indicated:

 

Year ended December 31, 2015   2014     2013  
                   
Numerator:                        
Net income   $ 62,126     $ 38,628     $ 111,272  
Denominator:                        
Weighted average number of common shares outstanding – Basic     18,696,659       19,367,928       19,327,394  
Dilutive effect of options and restricted stock units outstanding under the Company's employee compensation plans     668,420       469,480       613,324  
Weighted average number of common shares outstanding – Diluted     19,365,079       19,837,408       19,940,718  

 

The dilutive effect of outstanding options and restricted stock units is calculated using the treasury stock method. There are no anti-dilutive stock options in 2015, 2014, and 2013 because the closing price of the Company's stock on December 31, 2015, 2014, and 2013 exceeded the strike price of all outstanding options on that date.