Earnings per share

The following table represents a reconciliation of the numerator and denominator of the basic and diluted earnings per share computations contained in the consolidated financial statements:



	Year ended December 31,
	2017		2016		2015
	(in thousands, except per share data)
Earnings allocable to Common stockholders	$	24,901	$	11,782	$	—
Earnings allocable to Class A stockholders	$	—	$	13,625	$	21,092
Earnings allocable to Class B stockholders	$	—	$	760	$	1,181

Basic earnings per share:
Common stock	$	1.19	$	0.57	$	—
Class A common stock	$	—	$	0.98	$	1.53
Class B common stock	$	—	$	0.48	$	0.84

Diluted earnings per share:
Common stock	$	1.16	$	0.56	$	—
Class A common stock	$	—	$	0.98	$	1.53
Class B common stock	$	—	$	0.46	$	0.81

Basic weighted average shares outstanding:
Common stock	20,992		20,841		—
Class A common stock	—		13,844		13,796
Class B common stock	—		1,574		1,413

Dilutive effect of shares issued under stock compensation arrangements:
Common stock - stock options	506		232		—
Class B common stock - unvested restricted stock grants	—		70		39

Diluted weighted average shares outstanding:
Common stock	21,498		21,073		—
Class A common stock	—		13,844		13,796
Class B common stock	—		1,644		1,452

Prior to the reclassification of common stock on July 28, 2016, all of the earnings of the Company were allocated to Class A and Class B common stock and earnings per share was calculated using the two-class method. Under the two-class method, earnings attributable to Class A and Class B common stockholders were determined by allocating undistributed earnings to each class of stock. The undistributed earnings attributable to common stockholders were allocated based on the contractual participation rights of the Class A common stock and Class B common stock as if those earnings for the period had been distributed. Earnings attributable to Class A common stockholders equaled the sum of dividends at the rate per annum of 12% compounding annually during the period ("Accruing Dividends") plus seventy-five percent of any remaining assets of the Company available for distribution to its stockholders in the event of a liquidation, dissolution, winding up or sale of the Company after payment of the Accruing Dividends ("Residual Proceeds"). Earnings attributable to Class B common stockholders equaled twenty-five percent of the Residual Proceeds. After the reclassification of common stock on July 28, 2016, all of the earnings of the Company were attributable to the single class of common stock.

Basic earnings per share for each class of common stock was computed by dividing the earnings attributable to the common stockholders by the weighted average number of shares of each respective class of common stock outstanding during the period. Diluted earnings per share attributable to each class of common stock was computed by dividing earnings attributable to common stockholders by the weighted average shares outstanding for each respective class of common stock outstanding during the period, including potentially dilutive shares of common stock for the period determined using the treasury stock method. There were no potentially dilutive shares attributable to Class A common stockholders. For purposes of the diluted earnings per share attributable to Class B common stockholders calculation, unvested restricted grants of common stock were considered to be potentially dilutive shares of common stock. There were no material anti-dilutive Class B shares for the years ended December 31, 2016 and 2015. See Note 9, "Stockholders' Equity," for details regarding changes to the Company’s capital structure on July 28, 2016.

There were no anti-dilutive stock options for the years ended December 31, 2017 and 2016.