Net Income Available to Common Stockholders

12 Months Ended

Dec. 31, 2014

Net Income Available to Common Stockholders

Net Income Available to Common Stockholders

Net Income Available to Common Stockholders

Basic and diluted net income per share available to common stockholders are presented in conformity with the two-class method required for participating securities. Under the two-class method, basic net income per share available to common stockholders is computed by dividing the net income available to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share available to common stockholders is computed by using the weighted-average number of shares of common stock outstanding, including potential dilutive shares of common stock, assuming the dilutive effect of outstanding stock options and restricted stock units using the treasury stock method.

The following table presents the calculation of basic and diluted net income per share available to common stockholders (in thousands, except for per share data):

	Year Ended December 31,
	2014		2013			2012
Net income available to common stockholders:
Numerator:
Basic:
Net income	$	39,341	$	40,783		$	38,957
Allocation of net income to participating stockholders	—		(20		)	(502		)
Net income available to common stockholders – basic	$	39,341	$	40,763		$	38,455
Diluted:
Net income available to common stockholders – basic	$	39,341	$	40,763		$	38,455
Undistributed earnings re-allocated to common stockholders	—		—			19
Net income available to common stockholders – diluted	$	39,341	$	40,763		$	38,474
Denominator:
Basic shares:
Weighted-average shares used in computing basic net income available to common stockholders	53,444		51,956			49,766
Diluted shares:
Weighted-average shares used in computing basic net income available to common stockholders	53,444		51,956			49,766
Dilutive effect of stock options and restricted stock units using treasury-stock method	1,374		1,696			2,036
Weighted-average shares used in computing diluted net income available to common stockholders	54,818		53,652			51,802
Net income per common share available to common stockholders:
Basic	$	0.74	$	0.78		$	0.77
Diluted	$	0.72	$	0.76		$	0.74

For the years ended December 31, 2014, 2013 and 2012 the following securities were not included in the calculation of diluted shares outstanding, as the effect would have been anti-dilutive (in thousands):

	Year Ended December 31,
	2014	2013	2012
Weighted-average:
Stock options outstanding	767	1,215	2,672
Restricted stock units outstanding	100	127	395
Shares of common stock subject to repurchase	—	25	649