NET INCOME PER SHARE

9 Months Ended

Sep. 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 2,544,140 and 2,096,112 for the three months ended September 30, 2013 and 2014, respectively, and 2,547,890 and 2,131,611 for the nine months ended September 30, 2013 and 2014, respectively.

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

	Three months ended September 30,				Nine months ended September 30,
	2013		2014		2013		2014
Net income attributable to CTC Media, Inc. stockholders	$	46,655	$	31,595	$	106,836	$	89,472
Weighted average common shares outstanding—basic
Common stock		155,986,822		155,762,166		157,286,789		155,742,190
Dilutive effect of:
Stock-based awards		112,386		363,329		52,283		228,050
Weighted average common shares outstanding—diluted		156,099,208		156,125,495		157,339,072		155,970,240
Net income per share attributable to CTC Media, Inc. stockholders:
Basic	$	0.30	$	0.20	$	0.68	$	0.57
Diluted	$	0.30	$	0.20	$	0.68	$	0.57

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