Earnings Per Share

6 Months Ended

Jun. 30, 2020

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 June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Net income attributable to common shares	$	20,671	$	19,535	$	38,519	$	39,196
Weighted-average common shares outstanding - basic		39,873,260		36,463,421		38,604,576		36,405,921
Effect of potentially dilutive common shares:
Stock options		20,065		38,741		22,708		38,886
Unvested awards		99,686		116,371		131,788		135,740
Weighted-average common shares outstanding - diluted		39,993,011		36,618,533		38,759,072		36,580,547
Net income per share attributable to common shares
Basic	$	0.52	$	0.54	$	1.00	$	1.08
Diluted	$	0.52	$	0.53	$	0.99	$	1.07

In the calculations above, we have excluded weighted-average potentially dilutive securities of 566 and 228 for the three months ended June 30, 2020, and 2019, respectively, 2,074 and 26,749 for the six months ended June 30, 2020, and 2019, respectively, as their effect would have been antidilutive.