Basic and diluted earnings per share for the years ended
December 31, 2018, 2017 and 2016 consisted of the following
(in thousands, except per share data):
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Years Ended
December 31, |
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2018 |
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2017 |
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2016 |
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Numerator (Basic and Diluted): Net income
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$ |
87,257 |
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$ |
51,524 |
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$ |
64,657 |
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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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38,637 |
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38,142 |
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37,637 |
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Deduct: Unvested RSAs(1)
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(30 |
) |
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(29 |
) |
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(36 |
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Add: Fully vested DSUs(2)
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542 |
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875 |
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1,298 |
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Weighted Average Common Shares Outstanding
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39,149 |
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38,988 |
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38,899 |
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Basic earnings per common share
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$ |
2.23 |
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$ |
1.32 |
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$ |
1.66 |
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Diluted
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Weighted Average Common Shares Outstanding from above
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39,149 |
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38,988 |
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38,899 |
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Add: Dilutive effect of RSUs, RSAs & ESPP
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234 |
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112 |
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136 |
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Weighted Average Common Shares Outstanding
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39,383 |
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39,100 |
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39,035 |
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Diluted earnings per common share
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$ |
2.22 |
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$ |
1.32 |
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$ |
1.66 |
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Antidilutive shares excluded from diluted earnings per common
share(3)
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137 |
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512 |
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516 |
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| (1) |
RSAs were issued and outstanding to the non-employee directors and have a
one-year or three-year
vesting term subject to service requirements. See Note 11 –
“Stock-Based Compensation Plans” for additional
information.
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| (2) |
Shares are included in weighted average common shares
outstanding as the shares are fully vested but have not yet been
delivered. See Note 10 – “Stockholders’
Equity” for additional information.
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| (3) |
Primarily pertaining to RSU grants to the
Company’s employees and independent contractors.
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