Earnings Per Share

9 Months Ended

Sep. 30, 2016

Earnings per Share

Basic earnings per share is based upon the weighted average common shares outstanding during each year. Diluted earnings per share is based on the basic weighted earnings per share with additional weighted common shares for common stock equivalents. During the three and nine months ended September 30, 2016 and September 30, 2015, we had outstanding restricted shares of common stock to certain of our employees under the Company's 2011 Restricted Stock Award Plan (the "Plan"). A reconciliation of the numerator (net income) and denominator (weighted average number of shares outstanding of the basic and diluted earnings per share ("EPS")) for the three and nine months ended September 30, 2016 and September 30, 2015 is as follows (in thousands, except per share data):



	Three months ended September 30, 2016
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic EPS	$	12,527	83,286	$	0.15
Effect of restricted stock	—		56
Diluted EPS	$	12,527	83,342	$	0.15



	Three months ended September 30, 2015
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic EPS	$	15,113	87,387	$	0.17
Effect of restricted stock	—		105
Diluted EPS	$	15,113	87,492	$	0.17



	Nine Months Ended September 30, 2016
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic EPS	$	43,272	83,301	$	0.52
Effect of restricted stock	—		72
Diluted EPS	$	43,272	83,373	$	0.52



	Nine Months Ended September 30, 2015
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic EPS	$	56,041	87,663	$	0.64
Effect of restricted stock	—		143
Diluted EPS	$	56,041	87,806	$	0.64