EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2018

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 March 31,
	2018			2017
Income (Numerator)
Net income	$	43,994		$	70,703
Net income attributable to noncontrolling interests	(871		)	(13,501		)
Numerator for basic and diluted earnings per common share available to common shareholders	$	43,123		$	57,202

Shares (Denominator)
Weighted-average common shares outstanding	101,899			92,630
Dilutive effect of stock-settled appreciation rights and outstanding stock options	1,018			1,062
Weighted-average common and common equivalent shares outstanding	102,917			93,692

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 March 31,
	2018	2017
Weighted-average stock-settled appreciation rights and outstanding stock options excluded	500	—