TopBuild Corp. Annual report pursuant to Section 13 and 15(d)

Income Per Share (Tables)

12 Months Ended

Dec. 31, 2017

Basic and diluted income per share were computed as follows, in thousands, except share and per share amounts:


	Years Ended December 31,
	2017		2016		2015
Income from continuing operations	$	158,133	$	72,606	$	79,123
Loss from discontinued operations, net		—		—		(152)
Net income - basic and diluted	$	158,133	$	72,606	$	78,971

Weighted average number of common shares outstanding - basic		35,897,641		37,585,777		37,674,913

Dilutive effect of common stock equivalents:
RSAs with service-based conditions		221,497		192,705		93,688
RSAs with market-based conditions		185,069		28,307		—
RSAs with performance-based conditions		—		—		—
Stock options		267,939		60,423		12,274

Weighted average number of common shares outstanding - diluted		36,572,146		37,867,212		37,780,875

Basic income per common share:
Income from continuing operations	$	4.41	$	1.93	$	2.10
Loss from discontinued operations, net		—		—		—
Net income	$	4.41	$	1.93	$	2.10

Diluted income per common share:
Income from continuing operations	$	4.32	$	1.92	$	2.09
Loss from discontinued operations, net		—		—		—
Net income	$	4.32	$	1.92	$	2.09

The following table summarizes shares excluded from the calculation of diluted income per share because their effect would have been anti-dilutive:


	Years Ended December 31,
	2017		2016		2015
Anti-dilutive common stock equivalents:
RSAs with service-based conditions		458		35,182		17,366
RSAs with market-based conditions		—		6,323		—
RSAs with performance-based conditions		—		—		—
Stock options		45,308		432,287		127,872
Total anti-dilutive common stock equivalents		45,766		473,792		145,238