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Net Income Per Share:
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Net Income Per Share [Text Block]
Net Income Per Share
 
Net income per share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted net income per share is computed by dividing net income by the weighted average number of common shares outstanding plus dilutive securities. Dilutive securities are outstanding common stock options and restricted stock units(excluding stock options with an exercise price in excess of the average market value for the period), less the number of shares that could have been purchased with the proceeds from the exercise of the options, using the treasury stock method. Options that are anti-dilutive because their exercise price exceeded the average market price of the common stock for the period approximated 44,000 for the nine months ended September 30, 2015. There were no anti-dilutive options for the three months ended September 30, 2016 and 2015 and no anti-dilutive options for the nine months ended September 30, 2016.

The following table presents the calculation of net earnings per common share (“EPS”) — basic and diluted (in thousands, except per share data):
 
 
Three months ended September 30,
 
Nine months ended
September 30,
 
2016
 
2015
 
2016
 
2015
Net income
$
18,806

 
$
16,266

 
$
53,572

 
$
39,522

Weighted average number of common shares outstanding (for basic calculation)
16,200

 
15,894

 
16,113

 
15,790

Dilutive securities(1)
1,086

 
681

 
987

 
619

Weighted average common and common equivalent shares outstanding (for diluted calculation)
17,286

 
16,575

 
17,100


16,409

EPS — basic
$
1.16

 
$
1.02

 
$
3.32

 
$
2.50

EPS — diluted
$
1.09

 
$
0.98

 
$
3.13

 
$
2.41


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(1) During the second quarter of 2016, we early adopted ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (see Note 2: New Accounting Pronouncements). Under this ASU, the assumed proceeds from applying the treasury stock method when computing earnings per share no longer includes the amount of excess tax benefits or deficiencies that used to be recognized as additional paid-in capital. This change in the treasury stock method was made on a prospective basis, with adjustments reflected as of the beginning of the 2016 fiscal year. The changes to the treasury stock method required by this ASU impacted weighted average common and common equivalent shares outstanding by 413,000 shares and 375,000 shares for the three and nine months ended September 30, 2016, respectively.