Earnings Per Share

6 Months Ended

Jun. 30, 2017

3.	Earnings Per Share

Basic earnings per share were calculated using net earnings and the weighted average number of shares of common stock outstanding during the respective period. Diluted earnings per share were calculated using net earnings and the weighted average number of shares of common stock and potential common stock outstanding during the respective period. Potentially dilutive common stock consisted of stock options and the premium over the conversion price on Roper's senior subordinated convertible notes based upon the trading price of Roper's common stock. The effects of potential common stock were determined using the treasury stock method. Weighted average shares outstanding are shown below (in thousands):

	Three months ended June 30,				Six months ended June 30,
	2017		2016		2017		2016
Basic shares outstanding		102,081		101,249		101,983		101,160
Effect of potential common stock:
Common stock awards		1,328		1,143		1,264		1,142
Senior subordinated convertible notes		-		74		-		74
Diluted shares outstanding		103,409		102,466		103,247		102,376

For the three and six months ended June 30, 2017, there were 412,100 and 581,350 outstanding stock options, respectively, that were not included in the determination of diluted earnings per share because doing so would have been antidilutive, as compared to 1,027,350 and 1,057,350 outstanding stock options that would have been antidilutive in the respective 2016 periods.