Earnings per Share

12 Months Ended

Dec. 31, 2018

The following table sets forth the computation of basic and diluted earnings per common share:



	Year Ended December 31,
	2018		2017		2016
	(in thousands, except per-share amounts)
Numerator:
Net income (1)	$	155,749	$	415,522	$	263,483
Denominator:
Weighted-average shares outstanding, basic	68,249		69,221		70,344
Effect of dilutive stock awards	182		156		164
Adjusted weighted-average shares outstanding, diluted	68,431		69,377		70,508
Earnings per Share:
Basic earnings per common share (1)	$	2.28	$	6.00	$	3.75
Diluted earnings per common share (1)	$	2.28	$	5.99	$	3.74

Anti-dilutive weighted-average shares	145		85		66

(1) During the twelve months ended December 31, 2017, the Company recorded a non-recurring income tax benefit of $196.7 million ($2.84 and $2.84 per basic and diluted share, respectively) due to the enactment of the Tax Cuts and Jobs Act of 2017. For additional information, refer to Note 17, Income Taxes.