Earnings Per Share

6 Months Ended

Jun. 30, 2019

EARNINGS PER SHARE

Basic and diluted earnings per common share (“EPS”) for the three and six months ended June 30, 2019 and 2018 were:



	Three Months Ended June 30,					Six Months Ended June 30,
	2019		2018			2019		2018
	(in thousands, except per share data)
Numerator:
Net income attributable to common stockholders	$	39,198	$	30,426		$	63,908	$	42,949
Less: Net income allocable to Series A Convertible Preferred stockholders ⁽¹⁾	—		(5,121		)	—		(7,205		)
Remaining net income available to common stockholders - basic and diluted	$	39,198	$	25,305		$	63,908	$	35,744
Denominator:
Weighted average common shares outstanding - basic	70,936		68,153			71,967		68,427
Plus: dilutive effect of stock options and unvested restricted stock units for both periods and Series A Convertible Preferred Stock in 2018	979		3,314			1,402		2,035
Weighted average common shares outstanding - diluted	71,915		71,467			73,369		70,462

Net income per common share:
Basic	$	0.55	$	0.37		$	0.89	$	0.52
Diluted	$	0.55	$	0.35		$	0.87	$	0.51

⁽¹⁾Represents the amount which would have been paid to Series A Convertible Preferred stockholders in the event the Company had declared a dividend on its common stock.

For the three and six months ended June 30, 2019, 0.3 million and 0.2 million options and RSUs were excluded from the calculation of diluted EPS because the effect was anti-dilutive. For the three and six months ended June 30, 2018, 0.1 million and 0.2 million options and RSUs were excluded from the calculation of diluted EPS under the two-class method because the effect was anti-dilutive.