NOTE 4. EARNINGS PER SHARE

The following table reconciles the number of shares used in calculating basic and diluted earnings per share:

	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands, except per share amounts)	2018		2017		2018		2017
Net income	$	46,148	$	24,244	$	60,745	$	41,165

Basic weighted-average shares outstanding		62,979,660		40,822,726		56,739,012		40,802,057
Incremental shares due to:
Performance shares		302,815		355,844		298,883		305,625
Restricted stock units		33,816		40,399		90,125		36,013
Diluted weighted-average shares outstanding		63,316,291		41,218,969		57,128,020		41,143,695

Basic net income per share	$	0.73	$	0.59	$	1.07	$	1.01
Diluted net income per share	$	0.73	$	0.59	$	1.06	$	1.00

We issued 22.0 million shares in connection with the Deltic merger. See Note 3: Merger with Deltic.

For the three and six months ended June 30, 2018, there were 70,318 and 51,723 stock-based awards that were excluded from the calculation of diluted earnings per share because they were anti-dilutive. Anti-dilutive stock-based awards could be dilutive in future periods. For the three and six months ended June 30, 2017, there were 0 and 18,289 stock-based awards that were excluded from the calculation of diluted earnings per share because they were anti-dilutive.