EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2019

Basic earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities include outstanding stock options, unvested restricted stock and unvested equity-settled RSUs. The dilutive effect of potentially dilutive securities is reflected in diluted earnings per share by application of the treasury stock method.

The following table sets forth the computation of basic and diluted earnings per share of common stock as follows:



	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Numerator for basic and diluted earnings per share:
Net income	$	58,777	$	50,255	$	119,531	$	114,673
Numerator for basic and diluted earnings per share	$	58,777	$	50,255	$	119,531	$	114,673

Denominator:
Weighted average common shares for basic earnings per share	54,681,959		53,517,124		54,464,753		53,299,038
Net effect of dilutive stock options, restricted stock units and restricted stock awards	2,932,325		3,069,885		2,961,810		3,115,948
Weighted average common shares for diluted earnings per share	57,614,284		56,587,009		57,426,563		56,414,986

Net income per share:
Basic	$	1.07	$	0.94	$	2.19	$	2.15
Diluted	$	1.02	$	0.89	$	2.08	$	2.03

The number of shares underlying equity-based awards that were excluded from the calculation of diluted earnings per share as their effect would be anti-dilutive was 168,451 and 97,327 during the three and six months ended June 30, 2019, respectively. The number of shares underlying equity-based awards that were excluded from the calculation of diluted earnings per share as their effect would be anti-dilutive was 155,142 and 104,186 during the three and six months ended June 30, 2018, respectively.