Earnings Per Share Attributable to Common Stockholders

9 Months Ended

Sep. 30, 2016

Earnings Per Share Attributable to Common Stockholders

12. Earnings Per Share Attributable to Common Stockholders

Basic earnings per share is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares outstanding during the period without consideration for common stock equivalents. Diluted net income per share attributable to common stockholders is computed by dividing net income by the weighted-average number of common shares outstanding during the period and potentially dilutive common stock equivalents, including stock options, restricted stock units and restricted stock awards, except in cases where the effect of the common stock equivalent would be antidilutive. Potential common stock equivalents consist of common stock issuable upon exercise of stock options and vesting of restricted stock units and restricted stock awards using the treasury stock method.

The following tables present the calculation of basic and diluted net income per share attributable to common stockholders for the three and nine months ended September 30, 2016 and 2015:

	Three Months Ended September 30, 2016						Three Months Ended September 30, 2015
	Income (Numerator)		Shares (Denominator)		Per Share Amount		Income (Numerator)		Shares (Denominator)		Per Share Amount
	(in thousands, except per share data)
Basic EPS
Net income attributable to common stockholders	$	13,182		85,217	$	0.15	$	6,867		84,583	$	0.08
Effect of Dilutive Securities
Stock options		—		776				—		1,267
Restricted stock units and restricted stock awards		—		431				—		17
Diluted EPS
Net income attributable to common stockholders	$	13,182		86,424	$	0.15	$	6,867		85,867	$	0.08

	Nine Months Ended September 30, 2016						Nine Months Ended September 30, 2015
	Income (Numerator)		Shares (Denominator)		Per Share Amount		Income (Numerator)		Shares (Denominator)		Per Share Amount
	(in thousands, except per share data)
Basic EPS
Net income attributable to common stockholders	$	35,920		84,889	$	0.42	$	26,789		83,827	$	0.32
Effect of Dilutive Securities
Stock options		—		837				—		1,761
Restricted stock units and restricted stock awards		—		231				—		11
Diluted EPS
Net income attributable to common stockholders	$	35,920		85,957	$	0.42	$	26,789		85,599	$	0.31

During the nine months ended September 30, 2016, the Company repurchased and retired 724,473 shares of its common stock. The repurchases resulted in a reduction of the outstanding shares used to calculate the weighted-average common shares outstanding for basic and diluted net earnings per share from the dates of the repurchases. See Note 11, Stockholders’ Equity, for additional details.

The number of shares of common stock underlying stock-based awards excluded from the calculation of diluted net income per share attributable to common stockholders because their effect would have been antidilutive for the three and nine months ended September 30, 2016 and 2015 were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
Anti-dilutive shares underlying stock-based awards:
Stock options		916,154		1,725,267		916,154		1,517,215
Restricted stock awards		—		—		—		—
Restricted stock units		178,551		88,063		178,551		—