Earnings Per Share

6 Months Ended

Jun. 30, 2016

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				Six Months Ended
	June 30,				June 30,
	2016		2015		2016		2015
Net income	$	85,247	$	77,809	$	101,610	$	86,242
Net (income) loss attributable to noncontrolling interest	188		115		196		101
Net income attributable to Pool Corporation	$	85,435	$	77,924	$	101,806	$	86,343

Weighted average shares outstanding:
Basic	42,030		43,322		42,128		43,461
Effect of dilutive securities:
Stock options and employee stock purchase plan	1,122		1,136		1,102		1,145
Diluted	43,152		44,458		43,230		44,606

Earnings per share:
Basic	$	2.03	$	1.80	$	2.42	$	1.99
Diluted	$	1.98	$	1.75	$	2.35	$	1.94

Anti-dilutive stock options excluded from diluted earnings per share computations	—		176		1		176