Earnings Per Share

9 Months Ended

Sep. 30, 2016

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,
	2016		2015		2016		2015
Net income	$	44,421	$	39,403	$	146,031	$	125,645
Net loss attributable to noncontrolling interest	113		44		309		144
Net income attributable to Pool Corporation	$	44,534	$	39,447	$	146,340	$	125,789
Weighted average shares outstanding:
Basic	42,020		42,826		42,092		43,266
Effect of dilutive securities:
Stock options and employee stock purchase plan	1,099		1,113		1,109		1,141
Diluted	43,119		43,939		43,201		44,407
Earnings per share:
Basic	$	1.06	$	0.92	$	3.48	$	2.91
Diluted	$	1.03	$	0.90	$	3.39	$	2.83
Anti-dilutive stock options excluded from diluted earnings per share computations	1		—		1		176