EARNINGS PER SHARE:

The following table reconciles income (numerator) and shares (denominator) used in our computations of basic and diluted earnings per share for the periods presented (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
Income (Numerator)
Net income	$	32,566		$	52,033		$	149,303		$	128,262
Net income attributable to noncontrolling interests	(1,929		)	(1,188		)	(16,820		)	(3,858		)
Numerator for basic and diluted earnings per common share available to common shareholders	$	30,637		$	50,845		$	132,483		$	124,404

Shares (Denominator)
Weighted-average common shares outstanding	102,245			93,948			99,210			94,595
Dilutive effect of stock-settled appreciation rights and outstanding stock options	810			818			963			870
Weighted-average common and common equivalent shares outstanding	103,055			94,766			100,173			95,465

The following table shows the weighted-average stock-settled appreciation rights and outstanding stock options (in thousands) that are excluded from the calculation of diluted earnings per common share as the inclusion of such shares would be anti-dilutive:



	Three Months Ended September 30,		Nine Months Ended September 30,
	2017	2016	2017	2016
Weighted-average stock-settled appreciation rights and outstanding stock options excluded	1,150	525	383	525