XML 39 R22.htm IDEA: XBRL DOCUMENT v3.6.0.2
Earnings per share
12 Months Ended
Dec. 31, 2016
Earnings per share [Abstract]  
Earnings per share
15. Earnings per share

The following table presents the calculation of basic and diluted net income per share:

  
Years ended December 31,
 
(in thousands, except share and per share data)
 
2016
  
2015
  
2014
 
Numerator:
         
Net income from continuing operations
 
$
62,524
  
$
91,416
  
$
54,266
 
Interest expense, net of tax
  
3,255
   
3,019
   
2,879
 
Amortization of debt issuance costs, net of tax
  
781
   
868
   
735
 
Net income, adjusted from continuing operations
  
66,560
   
95,303
   
57,880
 
Net loss from discontinued operations
  
(10,748
)
  
(28,546
)
  
(17,525
)
Net income, adjusted
 
$
55,812
  
$
66,757
  
$
40,355
 
             
Denominator:
            
Weighted-average number of shares-basic
  
40,184,159
   
38,595,435
   
37,344,891
 
Dilutive securities-equity awards
  
1,054,453
   
939,882
   
737,391
 
Dilutive securities-convertible debt
  
8,096,500
   
7,720,525
   
7,720,525
 
Weighted-average number of shares-diluted
  
49,335,112
   
47,255,842
   
45,802,807
 
             
Net income per share-basic from continuing operations
 
$
1.56
  
$
2.37
  
$
1.45
 
Net loss per share-basic from discontinued operations
  
(0.27
)
  
(0.74
)
  
(0.47
)
Net income per share-basic
 
$
1.29
  
$
1.63
  
$
0.98
 
             
Net income per share-diluted from continuing operations
 
$
1.35
  
$
2.02
  
$
1.26
 
Net loss per share-diluted from discontinued operations
  
(0.22
)
  
(0.61
)
  
(0.38
)
Net income per share-diluted
 
$
1.13
  
$
1.41
  
$
0.88
 

For the year ending December 31, 2016 and 2015, substantially all of the outstanding stock options to purchase shares of common stock were included in the calculation of diluted earnings per share. For the years ending December 31, 2014, outstanding stock options to purchase approximately 1.4 million shares of common stock, respectively, are not considered in the diluted earnings per share calculation because the exercise price of these options is greater than the average per share closing price during the year and their effect would be anti-dilutive.