Weighted Average Shares

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Weighted Average Shares

Weighted Average Shares

In July 2013, the Company’s Board of Directors declared a two-for-one stock split of the Company’s common stock, which was effected through a stock dividend distributed on September 16, 2013. All references made to share or per share amounts in the accompanying consolidated financial statements and applicable disclosures reflect this two-for-one stock split.

Weighted-average shares were calculated as follows (in thousands):

	Year Ended December 31,
	2014	2013	2012
Basic weighted-average common shares outstanding	86,858	86,946	85,666
Effect of dilutive stock options	2,213	1,955	1,614
Diluted weighted-average common and common-equivalent shares outstanding	89,071	88,901	87,280

Stock options to purchase 1,286,403, 1,385,901, and 1,790,911 shares of common stock, on a weighted-average basis, were outstanding in 2014, 2013, and 2012, respectively, but were not included in the calculation of dilutive net income per share because they were anti-dilutive.