v3.7.0.1
Earnings per Common Share
3 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
Earnings per Common Share
Earnings per Common Share
The calculation of basic and diluted EPS was as follows:
 
Three Months Ended March 31,
 
2017
 
2016
 
(In thousands, except per share data)
Basic earnings per Class A common share
 
 
 
Net income
$
40,754

 
$
32,882

Income attributable to preferred stock

 
(972
)
Net income allocated to Class A common stockholders
$
40,754

 
$
31,910

Weighted-average Class A shares issued and outstanding
50,458

 
49,863

Basic earnings per Class A common share
$
0.81

 
$
0.64

 
 
 
 
Diluted earnings per Class A common share
 
 
 
Net income allocated to Class A common stockholders
$
40,754

 
$
31,910

Re-allocated earnings

 
19

Diluted net income allocated to Class A common stockholders
$
40,754

 
$
31,929

Weighted-average Class A shares issued and outstanding
50,458

 
49,863

Dilutive potential common shares:
 
 
 
Stock options
603

 
343

Restricted stock units
1,417

 
630

Employee stock purchase plan
19

 
31

Diluted weighted-average Class A shares issued and outstanding
52,497

 
50,867

Diluted earnings per Class A common share
$
0.78

 
$
0.63


For the periods presented, we excluded all shares of convertible preferred stock and certain restricted stock units and stock options outstanding, which could potentially dilute basic EPS in the future, from the computation of diluted EPS as their effect was anti-dilutive. The following table shows the weighted-average number of anti-dilutive shares excluded from the diluted EPS calculation:
 
Three Months Ended March 31,
 
2017
 
2016
 
(In thousands)
Class A common stock
 
 
 
Options to purchase Class A common stock
55

 
326

Restricted stock units

 
8

Conversion of convertible preferred stock

 
1,519

Total options, restricted stock units and convertible preferred stock
55

 
1,853