Note 10 - Net Income Per Common Share

The following table displays a reconciliation of the information used in calculating basic and diluted earnings per common share for the six and three months ended June 30, 2017 and 2016.



	Six Months Ended June 30,			Three Months Ended June 30,
(in thousands, except per share data)	2017		2016	2017		2016
Basic Net Income Per Common Share:
Net income available to common shareholders	$	142,742	107,870	$	73,444	57,898
Weighted average common shares outstanding	122,251		126,164	122,203		125,100
Net income per common share, basic	$	1.17	0.85	$	0.60	0.46
Diluted Net Income Per Common Share:
Net income available to common shareholders	$	142,742	107,870	$	73,444	57,898
Weighted average common shares outstanding	122,251		126,164	122,203		125,100
Potentially dilutive shares from outstanding equity-based awards	792		614	824		599
Weighted average diluted common shares	123,043		126,778	123,027		125,699
Net income per common share, diluted	$	1.16	0.85	$	0.60	0.46

Basic net income per common share is computed by dividing net income by the average common shares outstanding for the period. Diluted net income per common share reflects the dilution that could occur if securities or other contracts to issue common stock were exercised or converted. The dilutive effect of outstanding options and restricted share units is reflected in diluted net income per common share, unless the impact is anti-dilutive, by application of the treasury stock method.

As of June 30, 2017 and 2016, there were 2.2 million and 2.5 million, respectively, potentially dilutive shares related to the Warrant and stock options to purchase shares of common stock that were outstanding during 2017 and 2016, but were not included in the computation of diluted net income per common share because the effect would have been anti-dilutive.