NET INCOME PER SHARE

6 Months Ended

Jun. 30, 2015

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 2,310,011 and 380,472 for the three months ended June 30, 2014 and 2015, respectively, and 2,336,955 and 361,805 for the six months ended June 30, 2014 and 2015, respectively.

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

	Three months ended June 30,				Six months ended June 30,
	2014		2015		2014		2015
Net income attributable to CTC Media, Inc. stockholders	$	26,661	$	4,696	$	57,877	$	13,113

Weighted average common shares outstanding—basic
Common stock		155,753,120		156,100,897		155,732,037		155,942,491
Dilutive effect of:
Stock-based awards		315,670		29,550		210,856		52,816

Weighted average common shares outstanding—diluted		156,068,790		156,130,447		155,942,893		155,995,307
Net income per share attributable to CTC Media, Inc. stockholders:
Basic	$	0.17	$	0.03	$	0.37	$	0.08
Diluted	$	0.17	$	0.03	$	0.37	$	0.08

The numerator used to calculate diluted net income per common share for the three and six months ended June 30, 2014 and 2015 was net income attributable to CTC Media, Inc. stockholders.