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Earnings Per Common Share
 6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Earnings Per Common Share Earnings Per Common Share
The computation of basic and diluted earnings per common share is presented below for the periods indicated (in thousands, except share and per share data):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
c
2020
 
2019
 
2020

2019
Basic earnings per common share:
 
 
 
 
 

 
 
Numerator:
 
 
 
 
 

 
 
Net income
$
76,508

 
$
81,451

 
$
45,557

 
$
147,423

Distributed and undistributed earnings allocated to participating securities
(3,353
)
 
(3,382
)
 
(1,939
)
 
(6,074
)
Income allocated to common stockholders for basic earnings per common share
$
73,155

 
$
78,069

 
$
43,618

 
$
141,349

Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding
92,409,949

 
97,451,019

 
93,177,243

 
98,150,014

Less average unvested stock awards
(1,207,798
)
 
(1,174,339
)
 
(1,154,589
)
 
(1,173,137
)
Weighted average shares for basic earnings per common share
91,202,151

 
96,276,680

 
92,022,654

 
96,976,877

Basic earnings per common share
$
0.80

 
$
0.81

 
$
0.47

 
$
1.46

Diluted earnings per common share:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income allocated to common stockholders for basic earnings per common share
$
73,155

 
$
78,069

 
$
43,618

 
$
141,349

Adjustment for earnings reallocated from participating securities
—

 
9

 
—

 
13

Income used in calculating diluted earnings per common share
$
73,155

 
$
78,078

 
$
43,618

 
$
141,362

Denominator:
 
 


 
 
 
 
Weighted average shares for basic earnings per common share
91,202,151

 
96,276,680

 
92,022,654

 
96,976,877

Dilutive effect of stock options and certain shared-based awards
705

 
345,899

 
126,858

 
312,821

Weighted average shares for diluted earnings per common share
91,202,856

 
96,622,579

 
92,149,512

 
97,289,698

Diluted earnings per common share
$
0.80

 
$
0.81

 
$
0.47

 
$
1.45


Participating securities include unvested shares and 3,023,314 dividend equivalent rights that were issued in conjunction with the IPO of the Company's common stock. These dividend equivalent rights expire in 2021 and participate in dividends on a one-for-one basis.
Potentially dilutive unvested shares and share units totaling 1,743,403 and 1,119,641 were outstanding at June 30, 2020 and 2019, respectively, but excluded from the calculation of diluted earnings per common share because their inclusion would have been anti-dilutive.