Earnings Per Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Note 2 – Earnings Per Share

We calculate basic earnings per share (EPS) by dividing Net income attributable to Pool Corporation by the weighted average number of common shares outstanding.  We include outstanding unvested restricted stock awards of our common stock in the basic weighted average share calculation.  Diluted EPS includes the dilutive effects of other share-based awards.  Stock options with exercise prices that are higher than the average market prices of our common stock for the periods presented are excluded from the diluted EPS calculation because their effect is anti-dilutive.

The table below presents the computation of EPS, including the reconciliation of basic and diluted weighted average shares outstanding (in thousands, except EPS):

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2014			2013		2014			2013
Net income	$	34,958		$	32,332	$	113,009		$	102,305
Less: net income attributable to noncontrolling interest	(122		)	—		(122		)	—
Net income attributable to Pool Corporation	$	34,836		$	32,332	$	112,887		$	102,305
Weighted average shares outstanding:
Basic	43,756			46,380		44,563			46,475
Effect of dilutive securities:
Stock options and employee stock purchase plan	1,108			1,218		1,167			1,245
Diluted	44,864			47,598		45,730			47,720
Earnings per share:
Basic	$	0.80		$	0.70	$	2.53		$	2.20
Diluted	$	0.78		$	0.68	$	2.47		$	2.14
Anti-dilutive stock options excluded from diluted earnings per share computations	169			—		169			—