Earnings Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

14. Earnings Per Share

We use the treasury stock method to calculate earnings per share as our currently issued non-vested RSUs and PSUs do not have participating rights.

The following table sets forth the computation of basic and diluted EPS for the three months ended March 31, 2020 and 2019 (in thousands, except share and per share information):

	Three Months Ended
	March 31,
	2020		2019
Numerator
Net income	$	26,126	$	17,117
Denominator
Weighted average common shares outstanding - basic		33,207,928		30,203,243
Dilutive effect of restricted stock units		268,516		241,033
Weighted average common shares outstanding - diluted		33,476,444		30,444,276
Earnings per share:
Basic	$	0.79	$	0.57
Diluted	$	0.78	$	0.56

Stock-based awards are excluded from the calculation of diluted EPS in the event they are subject to unsatisfied performance conditions or are antidilutive. We excluded 0.6 million and 0.3 million common unit equivalents from diluted earnings per share during the three months ended March 31, 2020 and 2019, respectively, related to the PSUs for which performance conditions remain unsatisfied.