SHAREHOLDERS' EQUITY

Basic and diluted income per share was determined based on the following share data (in thousands):



	Three Months Ended March 31,
	2018	2017
Weighted average basic common shares	12,090	11,827
Effect of stock options	1,559	1,553
Effect of dilutive share awards	213	97
Effect of Convertible Senior Notes and warrants	986	—
Weighted average diluted common shares	14,848	13,477

For the three months ended March 31, 2018, the weighted average shares that were anti-dilutive, and therefore excluded from the calculation of diluted income per share, included options to purchase 0.3 million shares of common stock. No shares related to potentially dilutive securities were excluded from the calculation of diluted income per share for the three months ended March 31, 2017.

The 0.625% Convertible Senior Notes due June 1, 2022 and the warrants issued by the Company in the second quarter of 2017 could be converted into the Company’s common stock in the future, subject to certain contingencies. See Note 11—Debt for additional information.

Common Stock Repurchases

In each of January 2010, May 2014, January 2016, February 2016 and February 2018, the board of directors authorized and the Company announced the repurchase of up to $10.0 million, $10.0 million, $50.0 million, $40.0 million and $100.0 million, respectively, of LendingTree's common stock. During the three months ended March 31, 2018, the Company purchased 30,416 shares of its common stock pursuant to this stock repurchase program. At March 31, 2018, approximately $116.7 million of the previous authorizations to repurchase common stock remain available for the Company to purchase its common stock.