NET INCOME PER SHARE

6 Months Ended

Jun. 30, 2014

NET INCOME PER SHARE

NET INCOME PER SHARE

3. NET INCOME PER SHARE

        Basic net income per share 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 was 2,619,246 and 2,310,011 for the three months ended June 30, 2013 and 2014, respectively, and 2,715,914 and 2,336,955 for the six months ended June 30, 2013 and 2014, respectively.

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

	Three months ended June 30,				Six months ended June 30,
	2013		2014		2013		2014
Net income attributable to CTC Media, Inc. stockholders	$	31,593	$	26,661	$	60,181	$	57,877
Weighted average common shares outstanding—basic
Common stock		157,763,709		155,753,120		157,957,669		155,732,037
Dilutive effect of:
Stock-based awards		85,632		315,670		31,653		210,856
Weighted average common shares outstanding—diluted		157,849,341		156,068,790		157,989,322		155,942,893
Net income per share attributable to CTC Media, Inc. stockholders:
Basic	$	0.20	$	0.17	$	0.38	$	0.37
Diluted	$	0.20	$	0.17	$	0.38	$	0.37

        The numerator used to calculate diluted net income per common share for the three and six months ended June 30, 2013 and 2014 was net income attributable to CTC Media, Inc. stockholders.