NET INCOME PER SHARE

3 Months Ended

Mar. 31, 2015

NET INCOME PER SHARE

NET INCOME PER SHARE

3. NET INCOME PER SHARE

        Basic net income per share for the three months ended March 31, 2014 and 2015 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 2,279,166 and 349,584 for the three months ended March 31, 2014 and 2015, respectively.

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

	Three months ended March 31,
	2014		2015
Net income attributable to CTC Media, Inc. stockholders	$	31,216	$	8,417
Weighted average common shares outstanding—basic
Common stock		155,710,719		155,782,325
Dilutive effect of:
Stock-based awards		93,212		373,734
Weighted average common shares outstanding—diluted		155,803,931		156,156,059
Net income per share attributable to CTC Media, Inc. stockholders:
Basic	$	0.20	$	0.05
Diluted	$	0.20	$	0.05

        The numerator used to calculate diluted net income per common share for the three months ended March 31, 2014 and 2015 was net income attributable to CTC Media, Inc. stockholders.