4.	PER SHARE OF COMMON STOCK

Per share results have been calculated based on the average number of common shares outstanding. The calculation of basic and diluted net income per share is determined using net income applicable to common stockholders as the numerator and the number of shares included in the denominator as follows (in thousands, except per share amounts):

	Years Ended December 31,
	2017		2016		2015
Basic net income per share:
Net income applicable to common stockholders	$	111,422	$	119,433	$	104,289
Weighted average common shares outstanding		59,358		63,729		67,201
Basic net income per share	$	1.88	$	1.87	$	1.55

Diluted net income per share:
Net income applicable to common stockholders	$	111,422	$	119,433	$	104,289

Weighted average common shares outstanding		59,358		63,729		67,201
Dilutive shares from assumed conversion of convertible senior notes		1,726		794		1,128
Dilutive stock options and restricted stock		1,515		1,239		1,039
Diluted weighted average common shares outstanding		62,599		65,762		69,368
Diluted net income per share	$	1.78	$	1.82	$	1.50

For the period ending December 31, 2017, there were no options excluded from average diluted shares outstanding as the average market price of the common shares was greater than the exercise price. The periods ended December 31, 2016 and 2015 exclude options to purchase common shares totaling 503 and 666, respectively, because the exercise prices were greater than the average market price of the common shares. In addition, the calculation of diluted net income per share for each period includes the impact of the Company’s Notes as the average stock price of the Company’s common stock during these periods was above the initial conversion price of approximately $11.70 per share.