EARNINGS PER SHARE

Basic earnings per share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities include outstanding stock options, unvested restricted stock and unvested equity-settled RSUs. The dilutive effect of potentially dilutive securities is reflected in diluted earnings per share by application of the treasury stock method.

The following table sets forth the computation of basic and diluted earnings per share of common stock as follows:



	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Numerator for basic and diluted earnings per share:
Net income	$	50,255	$	37,359	$	114,673	$	61,000
Numerator for basic and diluted earnings per share	$	50,255	$	37,359	$	114,673	$	61,000

Denominator:
Weighted average common shares for basic earnings per share	53,517,124		51,899,416		53,299,038		51,431,353
Net effect of dilutive stock options, restricted stock units and restricted stock awards	3,069,885		2,949,203		3,115,948		2,939,931
Weighted average common shares for diluted earnings per share	56,587,009		54,848,619		56,414,986		54,371,284

Net income per share:
Basic	$	0.94	$	0.72	$	2.15	$	1.19
Diluted	$	0.89	$	0.68	$	2.03	$	1.12

The number of shares underlying equity–based awards that was excluded from the calculation of diluted earnings per share as their effect would be anti–dilutive was 155,142 and 104,186 during the three and six months ended June 30, 2018, respectively. The number of shares underlying equity–based awards that was excluded from the calculation of diluted earnings per share as their effect would be anti–dilutive was 654,435 and 1,463,156 during the three and six months ended June 30, 2017, respectively.