Basic and diluted earnings per share for the years ended
December 31, 2017, 2016 and 2015 consisted of the following
(in thousands, except per share data):
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Years Ended
December 31, |
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2017 |
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2016 |
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2015 |
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Numerator (Basic and Diluted):
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Net income
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$ |
51,524 |
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$ |
64,657 |
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$ |
66,350 |
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Denominator:
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Basic
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Weighted Average Common Shares Issued and Outstanding
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38,142 |
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37,637 |
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37,141 |
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Deduct: Unvested RSAs (1)
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(29 |
) |
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(36 |
) |
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(43 |
) |
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Add: Fully vested DSUs (2)
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875 |
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1,298 |
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1,750 |
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Weighted Average Common Shares Outstanding
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38,988 |
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38,899 |
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38,848 |
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Basic earnings per common share
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$ |
1.32 |
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$ |
1.66 |
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$ |
1.71 |
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Diluted
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Weighted Average Common Shares Outstanding from above
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38,988 |
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38,899 |
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38,848 |
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Add: Dilutive effect of RSUs, RSAs & ESPP
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112 |
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136 |
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314 |
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Weighted Average Common Shares Outstanding
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39,100 |
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39,035 |
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39,162 |
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Diluted earnings per common share
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$ |
1.32 |
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$ |
1.66 |
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$ |
1.69 |
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Antidilutive shares excluded from diluted earnings per common
share (3)
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512 |
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516 |
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79 |
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| (1) |
RSAs were issued and outstanding to
the non-employee directors
and generally have a three-year vesting term subject to service
requirements. See Note 10 – “Stock-Based Compensation
Plans” for additional information. |
| (2) |
Shares are included in weighted
average common shares outstanding as the shares are fully vested
but have not yet been delivered. See Note 9 –
“Stockholders’ Equity” for additional
information. |
| (3) |
Primarily pertaining to RSU grants to
the Company’s employees and independent contractors. |
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