Earnings Per Share

9 Months Ended

Sep. 30, 2019

Earnings Per Share

Earnings Per Share

12. Earnings Per Share

Basic net income per share is calculated by dividing the net income attributable to common shares by the weighted-average number of common shares outstanding during the period. Diluted net income per share adjusts basic net income

per share for the effects of potentially dilutive common shares, if the effect is not antidilutive. Potentially dilutive common stock consists of shares issuable under the 2010 Plan.

The following is a summary of basic and diluted net income per share (in thousands, except share and per share amounts):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Net income attributable to common shares	$	17,450	$	18,600	$	56,646	$	58,291
Weighted-average common shares outstanding - basic		36,950,950		35,512,091		36,589,593		34,504,790
Effect of potentially dilutive common shares:
Stock options		38,172		45,453		38,663		49,349
Unvested awards		143,033		163,934		134,985		139,696
Weighted-average common shares outstanding - diluted		37,132,155		35,721,478		36,763,241		34,693,835
Net income per share attributable to common shares
Basic	$	0.47	$	0.52	$	1.55	$	1.69
Diluted	$	0.47	$	0.52	$	1.54	$	1.68

In the calculations above, we have excluded weighted-average potentially dilutive securities of 100 and 1,003 for the three months ended September 30, 2019, and 2018, respectively, 1,810 and 121,373 for the nine months ended September 30, 2019, and 2018, respectively, as their effect would have been antidilutive.