Earnings Per Share

12 Months Ended

Dec. 31, 2016

The net income available for common shareholders and earnings per common share presented in the table below excludes the results of operations of the Entities under Common Control (see note 3).



	Year Ended December 31,
	2016 $	2015 $		2014 $
Net income	62,855	179,635		60,538
Less: Net income attributable to the Entities under Common Control	—	(2,708	)	(3,396	)
Net income available for common shareholders	62,855	176,927		57,142
Weighted-average number of common shares - basic	156,323,348	130,136,228		85,882,685
Dilutive effect of stock-based awards	242,067	581,481		364,452
Weighted average number of common shares - diluted	156,565,415	130,717,709		86,247,137
Earnings per common share:
- Basic	0.40	1.36		0.67
- Diluted	0.40	1.35		0.66

Stock-based awards, which have an anti-dilutive effect on the calculation of diluted earnings per common share, are excluded from this calculation. For the years ended December 31, 2016, 14 thousand restricted stock units (2015 - nil, 2014 - nil) had an anti-dilutive effect on the calculation of diluted earnings per common share. For the years ended December 31, 2016, 2015, and 2014, options to acquire 0.7 million shares, 44 thousand shares, and 0.1 million shares of the Company’s Class A common stock, respectively, had an anti-dilutive effect on the calculation of diluted earnings per common share.