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Earnings Per Share Attributable to Common Stockholders
12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Earnings Per Share Attributable to Common Stockholders

13. 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 calculation of weighted-average dilutive shares outstanding for the year ended December 31, 2017 was impacted by the adoption of ASU 2016-09. See Note 2, Summary of Significant Accounting Policies, for additional details.

The following table presents the calculation of basic and diluted net income per share attributable to common stockholders for the years ended December 31, 2017, 2016 and 2015:

 

 

 

Year Ended December 31, 2017

 

 

 

Income

(Numerator)

 

 

Shares

(Denominator)

 

 

Per Share

Amount

 

 

(in thousands, except per share data)

 

Basic EPS

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to common stockholders

 

$

98,983

 

 

 

86,297

 

 

$

1.15

 

Effect of Dilutive Securities

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

 

 

 

1,059

 

 

 

 

 

Restricted stock units

 

 

 

 

 

826

 

 

 

 

 

Diluted EPS

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to common stockholders

 

$

98,983

 

 

 

88,182

 

 

$

1.12

 

 

 

 

Year Ended December 31, 2016

 

 

 

Income

(Numerator)

 

 

Shares

(Denominator)

 

 

Per Share

Amount

 

 

(in thousands, except per share data)

 

Basic EPS

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to common stockholders

 

$

49,557

 

 

 

85,069

 

 

$

0.58

 

Effect of Dilutive Securities

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

 

 

 

792

 

 

 

 

 

Restricted stock units and restricted stock awards

 

 

 

 

 

274

 

 

 

 

 

Diluted EPS

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to common stockholders

 

$

49,557

 

 

 

86,135

 

 

$

0.58

 

 

 

 

Year Ended December 31, 2015

 

 

 

Income

(Numerator)

 

 

Shares

(Denominator)

 

 

Per  Share

Amount

 

 

(in thousands, except per share data)

 

Basic EPS

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to common stockholders

 

$

38,077

 

 

 

84,076

 

 

$

0.45

 

Effect of Dilutive Securities

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

 

 

 

1,594

 

 

 

 

 

Restricted stock units and restricted stock awards

 

 

 

 

 

36

 

 

 

 

 

Diluted EPS

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to common stockholders

 

$

38,077

 

 

 

85,706

 

 

$

0.44

 

During the year ended December 31, 2016, the Company repurchased and retired 724,473 shares of its common stock at a weighted-average share price of $20.37, or an aggregate of $14.8 million. 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 years ended December 31, 2017, 2016 and 2015 were as follows:

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Anti-dilutive shares underlying stock-based awards:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

 

 

 

552,108

 

 

 

2,380,813

 

Restricted stock units

 

 

35,646

 

 

 

212,170

 

 

 

464,930