SHAREHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2021

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


	Three Months Ended March 31,
		2021	2020
Weighted average basic common shares		13,070	12,957
Effect of stock options		658	628
Effect of dilutive share awards		118	104
Effect of Convertible Senior Notes and warrants		273	469
Weighted average diluted common shares		14,119	14,158

For the first quarters of 2021 and 2020, 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 and 0.1 million shares of common stock, respectively.

The convertible notes and the warrants issued by the Company could be converted into the Company’s common stock, subject to certain contingencies. See Note 13—Debt for additional information. Shares of the Company's common stock associated with the 0.50% Convertible Senior Notes due July 15, 2025 and the warrants issued by the Company in the third quarter of 2020 were excluded from the calculation of diluted income per share for the first quarter of 2021 as they were anti-dilutive since the conversion price of the notes and the strike price of the warrants were greater than the average market price of the Company’s common stock during the relevant period.

Common Stock Repurchases

In each of February 2018 and February 2019, the board of directors authorized and the Company announced the repurchase of up to $100.0 million and $150.0 million, respectively, of LendingTree's common stock. There were no repurchases of the Company's common stock during the first quarters of 2021 and 2020. At March 31, 2021, approximately $179.7 million of the previous authorizations to repurchase common stock remain available.