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Net Income per Common Share | 6 Months Ended
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Jun. 30, 2018
Net Income per Common Share |
Net Income per Common Share | 17. Net Income per Common Share Basic earnings per common share is calculated based on the weighted average number of common shares outstanding for the period. Diluted earnings per common share is calculated based on the assumption that stock options outstanding, which have an exercise price less than the average market price of the Company’s common shares during the period, would have been exercised on the later of the beginning of the period or the date granted and that the funds obtained from the exercise were used to purchase common shares at the average market price during the period. All the Company’s restricted stock units are considered to be dilutive. The effect of the Company’s dilutive securities is calculated using the treasury stock method and only those instruments that result in a reduction in net income per common share are included in the calculation. Options to purchase 3.0 million and 2.8 million shares of common stock at weighted average exercise prices of $11.65 and $9.42 were outstanding at June 30, 2018 and 2017, respectively, but were not included in the computation of diluted weighted average common shares outstanding, as the exercise price of the options exceeded the average price of the Company’s common stock during those periods, and therefore are anti-dilutive. Basic and diluted net income per common share is calculated as follows:
|  | Three months ended June 30, |  | Six months ended June 30,
|  | 2018 |  | 2017 |  | 2018 |  | 2017
Net income (in thousands) |  | $ | 3,754 |  | $ | 864 |  | $ | 9,211 |  | $ | 5,240
Basic weighted average shares of common stock outstanding |  |  | 57,315,472 |  |  | 56,839,823 |  |  | 57,218,389 |  |  | 56,818,406
Dilutive effect of share-based awards |  |  | 998,651 |  |  | 536,115 |  |  | 934,961 |  |  | 926,411
Diluted weighted average common shares outstanding |  |  | 58,314,123 |  |  | 57,375,938 |  |  | 58,153,350 |  |  | 57,744,817
Net income per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.07 |  | $ | 0.02 |  | $ | 0.16 |  | $ | 0.09
Diluted |  | $ | 0.06 |  | $ | 0.02 |  | $ | 0.16 |  | $ | 0.09

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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