Earnings per Common Share (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Schedule of basic and diluted EPS

The calculation of basic and diluted EPS was as follows:

	Three Months Ended March 31,
	2020		2019
	(In thousands, except per share data)
Basic earnings per Class A common share
Numerator:
Net income	$	46,845	$	64,043
Income attributable to unvested Walmart restricted shares	(808)		—
Net income allocated to Class A common stockholders	$	46,037	$	64,043
Denominator:
Weighted-average Class A shares issued and outstanding	51,894		53,050
Basic earnings per Class A common share	$	0.89	$	1.21
Diluted earnings per Class A common share
Numerator:
Net income allocated to Class A common stockholders	$	46,037	$	64,043
Re-allocated earnings	12		—
Diluted net income allocated to Class A common stockholders	$	46,049	$	64,043
Denominator:
Weighted-average Class A shares issued and outstanding	51,894		53,050
Dilutive potential common shares:
Stock options	57		168
Restricted stock units	338		679
Performance-based restricted stock units	351		641
Employee stock purchase plan	33		13
Diluted weighted-average Class A shares issued and outstanding	52,673		54,551
Diluted earnings per Class A common share	$	0.87	$	1.17

Schedule of antidilutive shares

The following table shows the weighted-average number of shares excluded from the diluted EPS calculation as their effects were anti-dilutive:

	Three Months Ended March 31,
	2020	2019
	(In thousands)
Class A common stock
Options to purchase Class A common stock	98	—
Restricted stock units	491	204
Performance-based restricted stock units	174	—
Unvested Walmart restricted shares	910	—
Total	1,673	204