EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

The Company calculates earnings per share under the two-class method, as unvested service-based restricted stock awards contain non-forfeitable rights to dividends, and thus are considered securities that participate in the earnings of the Company. The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):

	December 31,
	2020		2019		2018
Numerator:
Net income	$	68,594	$	50,430	$	58,269
Less: Income allocated to participating securities	(736)		(546)		(629)
Net income available to common stockholders	$	67,858	$	49,884	$	57,640
Denominator:
Weighted average shares - basic	67,010		66,884		66,499
Performance-based restricted stock awards	107		—		61
Weighted average shares - diluted	67,117		66,884		66,560
Basic net income per share:	$	1.01	$	0.75	$	0.87
Diluted net income per share:	$	1.01	$	0.75	$	0.87