NET INCOME PER SHARE

12 Months Ended

Dec. 31, 2013

NET INCOME PER SHARE

NET INCOME PER SHARE

3.     NET INCOME PER SHARE

        Basic net income per share for the years ended December 31, 2011, 2012 and 2013 is computed on the basis of the weighted average number of common shares outstanding during the period. Diluted net income per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares are calculated using the "treasury stock" method and consist of shares underlying outstanding equity awards. The number of shares excluded from the diluted net income per common share computation because their effect was antidilutive for the years ended December 31, 2011, 2012 and 2013, was 5,180,905, 3,578,707 and 2,306,665, respectively.

        The components of basic and diluted net income per share were as follows:

	Year ended December 31,
	2011		2012		2013
Net income attributable to CTC Media, Inc. stockholders	$	53,118	$	93,063	$	152,340
Weighted average common shares outstanding—basic Common stock		157,224,782		157,995,346		156,889,533
Dilutive effect of:
Stock-based awards		786,877		66,904		42,919
Weighted average common shares outstanding—diluted		158,011,659		158,062,250		156,932,452
Net income per share attributable to CTC Media, Inc. stockholders:
Basic	$	0.34	$	0.59	$	0.97
Diluted	$	0.34	$	0.59	$	0.97

        The numerator used to calculate diluted net income per common share for 2011, 2012 and 2013 was net income attributable to CTC Media, Inc. stockholders.