Note 4 - Earnings Per Share

9 Months Ended

Sep. 30, 2020

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,
	2020		2019		2020		2019
Numerator:
Numerator for basic and diluted earnings per share – Net income available to common shareholders	$	33,939	$	39,104	$	73,862	$	117,829
Denominator:
Denominator for basic earnings per share – weighted average shares outstanding		55,033		54,817		54,734		55,116
Effect of dilutive securities– Employee and director stock options and restricted share awards		1,410		1,209		1,195		1,322
Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions		56,443		56,026		55,929		56,438
Basic earnings per common share	$	0.62	$	0.71	$	1.35	$	2.14
Diluted earnings per common share and common share equivalents	$	0.60	$	0.70	$	1.32	$	2.09

Options to purchase shares of common stock that were outstanding for the three months and nine months ended September 30, 2020 and 2019 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,
	2020		2019		2020		2019
Weighted average anti-dilutive options		1,100		2,065		1,799		1,874