Net Income Per Share (Tables)

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Summary of Table Reconciling Basic and Diluted Net Income Per Share

The following table reconciles basic and diluted net income per share for the three and nine months ended September 30, 2017 and 2016:

(dollars and shares in thousands, except per share data)	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Basic Earnings Per Share
Net income	$	39,372	$	34,709	$	114,218	$	100,808
Weighted average common shares outstanding		135,120		134,492		135,040		125,366
Basic Net Income Per Share	$	0.30	$	0.25	$	0.85	$	0.80
Diluted Earnings Per Share
Net income	$	39,372	$	34,709	$	114,218	$	100,808
Weighted average common shares outstanding		135,120		134,492		135,040		125,366
Effect of dilutive securities:
Restricted stock		589		465		558		432
Stock options (1)		87		54		95		41
Weighted average shares outstanding		135,796		135,011		135,693		125,839
Diluted Net Income Per Share	$	0.29	$	0.25	$	0.84	$	0.80

(1) Options to purchase 0.1 million shares and 0.9 million shares outstanding at September 30, 2017 and 2016, respectively, were not included in the computation of net income per diluted share for the three months ended September 30, 2017 and 2016 because the exercise price of these options was greater than the average market price of the common shares and, therefore, the effect would be antidilutive. Options to purchase 0.1 million shares and 0.8 million shares outstanding at September 30, 2017 and 2016, respectively, were not included in the computation of net income per diluted share for the nine months ended September 30, 2017 and 2016, respectively, because the exercise price of these options was greater than the average market price of the common shares and, therefore, the effect would be antidilutive.