Stockholders’ Equity and Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of earnings per share calculations

The following table presents the EPS calculations for the years ended December 31, 2017, 2016 and 2015. The Company applied the two-class method in the computation of basic and diluted EPS in the periods when the RSAs were outstanding. The RSAs were fully vested as of December 31, 2015. For additional information regarding the Company’s EPS calculation, see Note 1 — Summary of Significant Accounting Policies to the Consolidated Financial Statements. With the adoption of ASU 2016-09 during the first quarter of 2017, the impact of excess tax benefits and deficiencies is no longer included in the calculation of diluted EPS. As a result of applying ASU 2016-09 in 2017, the Company recorded income tax benefits of $4.8 million or $0.03 per common share for the year ended December 31, 2017 related to the vesting of the RSUs. See Note 1 — Summary of Significant Accounting Policies to the Consolidated Financial Statements for additional information.




($ and shares in thousands, except per share data)	Year Ended December 31,
($ and shares in thousands, except per share data)	2017		2016		2015
Basic
Net income	$	505,624	$	431,677	$	384,677
Less: earnings allocated to participating securities	—		—		(3		)
Net income allocated to common stockholders	$	505,624	$	431,677	$	384,674

Basic weighted-average number of shares outstanding	144,444		144,087		143,818
Basic EPS	$	3.50	$	3.00	$	2.67

Diluted
Net income allocated to common stockholders	$	505,624	$	431,677	$	384,680

Basic weighted-average number of shares outstanding	144,444		144,087		143,818
Diluted potential common shares ⁽¹⁾	1,469		1,085		694
Diluted weighted-average number of shares outstanding	145,913		145,172		144,512
Diluted EPS	$	3.47	$	2.97	$	2.66


(1)	Includes dilutive shares from RSUs and warrants for the years ended December 31, 2017, 2016 and 2015.