Note 4 - Earnings Per Share

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Earnings Per Share [Text Block]

4 – Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share information):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Numerator:
Numerator for basic and diluted earnings per share – Net income available to common shareholders	$	39,104	$	41,665	$	117,829	$	92,093
Denominator:
Denominator for basic earnings per share – weighted average shares outstanding		36,545		39,309		36,744		39,480
Effect of dilutive securities – Employee and director stock options and restricted share awards		806		1,079		881		1,155
Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions		37,351		40,388		37,625		40,635
Basic earnings per common share	$	1.07	$	1.06	$	3.21	$	2.33
Diluted earnings per common share and common share equivalents	$	1.05	$	1.03	$	3.13	$	2.27

Options to purchase shares of common stock that were outstanding for the three months and nine months ended September 30, 2019 and 2018 that were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive are as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Weighted average anti-dilutive options		1,377		455		1,249		432