Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2017

Earnings Per Share

Schedule of basic and diluted net income per share

The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share amounts):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Net income	$	25,377	$	22,180	$	46,890	$	42,038
Less net income allocated to participating securities:
Non-forfeitable dividends on participating securities		(92)		(98)		(189)		(199)
Income allocated to participating securities		(12)		(7)		(12)		(7)
Total net income allocated to participating securities		(104)		(105)		(201)		(206)
Net income available to common stockholders		25,273		22,075		46,689		41,832
Effect of dilutive securities:
Participating securities		104		105		201		—	(1)
Net income for diluted net income per share	$	25,377	$	22,180	$	46,890	$	41,832
Shares for basic net income per share		39,414		37,969		39,390		37,707
Effect of dilutive securities:
Stock options		11		13		11		13
Performance-based stock units		207		—		207		—
Participating securities		162		182		161		—	(1)
Total effect of dilutive securities		380		195		379		13
Shares for diluted net income per share		39,794		38,164		39,769		37,720
Basic net income per share	$	0.64	$	0.58	$	1.19	$	1.11
Diluted net income per share	$	0.64	$	0.58	$	1.18	$	1.11	(1)

⁽¹⁾ For the six months ended June 30, 2016, the participating securities have been excluded from the computation of diluted net income per share as such inclusion would be anti-dilutive.