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Basic and Diluted Earnings per Share (Tables)
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data) for the periods indicated:

 

 

 

Years Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

90,908

 

 

$

105,931

 

 

$

5,035

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares of class A common stock

 

 

9,390

 

 

 

9,320

 

 

 

9,246

 

Weighted average common shares of class B common stock

 

 

2,035

 

 

 

2,035

 

 

 

2,055

 

Total weighted average common stock shares outstanding

 

 

11,425

 

 

 

11,355

 

 

 

11,301

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Employee stock options

 

 

91

 

 

 

184

 

 

 

55

 

Adjusted weighted average shares

 

 

11,516

 

 

 

11,539

 

 

 

11,356

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

7.96

 

 

$

9.33

 

 

$

0.45

 

Diluted earnings per share

 

$

7.89

 

 

$

9.18

 

 

$

0.44