EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2020

Basic and diluted earnings per common share (“EPS”) for the three and six months ended June 30, 2020 and 2019 were:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
	(in thousands, except per share data)
Numerator:
Net income	$	56,551	$	39,198	$	67,642	$	63,908
Denominator:
Weighted average common shares outstanding - basic	67,416		70,936		67,674		71,967
Plus: Dilutive effect of stock options and unvested restricted stock units	622		979		990		1,402
Weighted average common shares outstanding - diluted	68,038		71,915		68,664		73,369

Net income per common share:
Basic	$	0.84	$	0.55	$	1.00	$	0.89
Diluted	$	0.83	$	0.55	$	0.99	$	0.87

For the three and six months ended June 30, 2020, an aggregate of less than 0.1 million options and restricted stock units (“RSUs”) were excluded from the calculation of diluted EPS because the effect was anti-dilutive. For the three and six months ended June 30, 2019, 0.3 million and 0.2 million options and RSUs, respectively, were excluded from the calculation of diluted EPS because the effect was anti-dilutive.