Earnings per Share

12 Months Ended

Dec. 31, 2020

The following table sets forth the calculation of basic earnings per share and diluted earnings per share for the years ended December 31, 2020, 2019 and 2018 (in thousands, except share and per share amounts):


	Years Ended December 31,
	2020		2019		2018
Basic net income per share:
Net income	$	149,221	$	35,504	$	52,271
Weighted-average common shares outstanding during the period	31,522,845		40,845,128		57,331,622
Basic net income per share	$	4.73	$	0.87	$	0.91


	Years Ended December 31,
	2020		2019		2018
Diluted net income per share:
Net income	$	149,221	$	35,504	$	52,271
Basic shares outstanding during the period	31,522,845		40,845,128		57,331,622
Plus: Common stock equivalents associated with stock option awards	2,272,749		2,620,870		2,299,573
Diluted shares outstanding	33,795,594		43,465,998		59,631,195
Diluted net income per share	$	4.42	$	0.82	$	0.88

The computation of diluted shares outstanding excluded approximately 2.8 million , 2.6 million and 0.2 million of outstanding stock option awards for the years ended December 31, 2020, 2019 and 2018, respectively, and 10.5 million of outstanding stock warrants for the years ended December 31, 2020, 2019 and 2018, as their effect would have been anti-dilutive.