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Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2018
Summary of Significant Accounting Policies  
Schedule of cash and cash equivalents and restricted cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows as of June 30, 2018 and 2017 (in thousands):

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

June 30,

 

 

    

2018

    

2017

 

Cash and cash equivalents

 

$

115,978

 

$

331,227

 

Restricted cash

 

 

1,794

 

 

1,404

 

Total cash, cash equivalents and restricted cash

 

$

117,772

 

$

332,631

 

 

Changes in warranty reserve

During the three and six months ended June 30, 2018 and 2017, changes in the warranty reserve consisted of the following (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30,

 

June 30,

 

 

    

2018

    

2017

    

2018

    

2017

 

Accrued warranty reserve, beginning of period

 

$

4,623

 

$

3,490

 

$

4,916

 

$

4,033

 

Reserve provided

 

 

1,363

 

 

1,393

 

 

2,360

 

 

1,809

 

Payments

 

 

(1,280)

 

 

(1,019)

 

 

(2,570)

 

 

(1,978)

 

Accrued warranty reserve, end of period

 

$

4,706

 

$

3,864

 

$

4,706

 

$

3,864

 

 

Reconciliation of net income and weighted average shares outstanding for the calculation of basic and diluted earnings per share

The following table represents a reconciliation of the net income and weighted average shares outstanding for the calculation of basic and diluted earnings per share for the three and six months ended June 30, 2018 and 2017 (in thousands, except per share amounts):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30,

 

June 30,

 

 

 

2018

    

2017

    

2018

    

2017

    

Numerator:

    

 

    

    

 

    

 

 

    

 

 

    

 

Basic net income

 

$

2,999

 

$

647

 

$

656

 

$

3,086

 

Effect of dilutive securities

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

Diluted net income

 

$

2,999

 

$

647

 

$

656

 

$

3,086

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

22,584

 

 

22,487

 

 

22,577

 

 

22,479

 

Effect of dilutive securities

 

 

341

 

 

313

 

 

331

 

 

306

 

Diluted weighted average shares outstanding

 

 

22,925

 

 

22,800

 

 

22,908

 

 

22,785

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

0.13

 

$

0.03

 

$

0.03

 

$

0.14

 

Diluted earnings per share

 

$

0.13

 

$

0.03

 

$

0.03

 

$

0.14