Earnings Per Share

9 Months Ended

Sep. 30, 2015

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 the 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,
	2015		2014			2015		2014
Net income	$	39,403	$	34,958		$	125,645	$	113,009
Net (income) loss attributable to noncontrolling interest	44		(122		)	144		(122		)
Net income attributable to Pool Corporation	$	39,447	$	34,836		$	125,789	$	112,887
Weighted average shares outstanding:
Basic	42,826		43,756			43,266		44,563
Effect of dilutive securities:
Stock options and employee stock purchase plan	1,113		1,108			1,141		1,167
Diluted	43,939		44,864			44,407		45,730
Earnings per share:
Basic	$	0.92	$	0.80		$	2.91	$	2.53
Diluted	$	0.90	$	0.78		$	2.83	$	2.47
Anti-dilutive stock options excluded from diluted earnings per share computations	—		169			176		169