Earnings Per Share

9 Months Ended

Sep. 30, 2020

Basic earnings per share (EPS) amounts are computed by dividing earnings by the weighted average number of common shares outstanding during the period. Diluted EPS amounts assume the issuance of common stock for all potentially dilutive equivalents outstanding. To the extent stock awards are anti-dilutive, they are excluded from the calculation of diluted EPS.

The details of basic and diluted EPS are as follows:


	Three Months Ended				Nine Months Ended
(in thousands, except per share data)	September 30, 2020		September 30, 2019		September 30, 2020		September 30, 2019
Net income	$	75,627	$	89,463	$	218,255	$	285,443
Weighted average shares outstanding – basic	85,798		84,109		85,749		83,951
Dilutive effect of stock plans	1,426		1,624		1,427		1,619
Weighted average shares outstanding – diluted	87,224		85,733		87,176		85,570
Basic earnings per share	$	0.88	$	1.06	$	2.55	$	3.40
Diluted earnings per share	$	0.87	$	1.04	$	2.50	$	3.34
Anti-dilutive shares	30		25		28		8