Earnings Per Share

3 Months Ended

Mar. 31, 2020

Basic net income per share (“EPS”) is calculated by dividing net income attributable to common stockholders by the weighted average shares outstanding during the period. Diluted EPS is calculated by adjusting weighted average shares outstanding for the dilutive effect of potential common shares, determined using the treasury-stock method. For purposes of the diluted EPS calculation, stock options and restricted stock unit awards are considered to be potential common shares. Performance-based restricted stock units are not included in the calculation of diluted EPS until they are contingently issuable.

The basic and diluted EPS calculations for the three months ended March 31, 2020 and 2019 are presented below:



	Three Months Ended March 31,
(in thousands, except per share amounts)	2020		2019
Income attributable to common stockholders	$	22,029	$	20,350

Weighted average common shares outstanding, basic	66,839		66,782
Effect of dilutive securities:
Restricted stock units (a)	670		415
Stock options	134		85
Weighted average common shares outstanding, diluted	67,643		67,282

Basic income per common share	$	0.33	$	0.30
Diluted income per common share	$	0.33	$	0.30

(a) Includes service-based and contingently issuable performance-based restricted stock units.

The following table provides the securities that could potentially dilute EPS in the future, but were not included in the computation of diluted EPS for the periods presented because to do so would have been anti-dilutive. The amounts included in this table exclude performance-based restricted stock units. As of March 31, 2020, the number of currently outstanding performance-based restricted stock units that are issued upon vesting could range from zero to a maximum of 0.9 million.



	Three Months Ended March 31,
(in thousands)	2020	2019
Stock options	—	212
Restricted stock units	44	383