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Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Net Earnings Per Share

The following is a reconciliation of net income and the shares of common stock used in the computation of basic and diluted earnings per share:  

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

39,152

 

 

$

28,769

 

 

$

135,196

 

 

$

105,651

 

Less:  income allocable to participating securities

 

 

(18

)

 

 

(36

)

 

 

(62

)

 

 

(134

)

Income allocable to common shares

 

$

39,134

 

 

$

28,733

 

 

$

135,134

 

 

$

105,517

 

Add back:  undistributed earnings allocable to participating securities

 

$

18

 

 

$

36

 

 

$

62

 

 

$

134

 

Less:  undistributed earnings reallocated to participating securities

 

 

(18

)

 

 

(36

)

 

 

(61

)

 

 

(132

)

Numerator for diluted earnings per share

 

$

39,134

 

 

$

28,733

 

 

$

135,135

 

 

$

105,519

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

57,654

 

 

 

57,727

 

 

 

57,528

 

 

 

57,785

 

Dilutive effect of unvested restricted stock

 

 

729

 

 

 

818

 

 

 

875

 

 

 

939

 

Diluted weighted average shares outstanding

 

 

58,383

 

 

 

58,545

 

 

 

58,403

 

 

 

58,724

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.68

 

 

$

0.50

 

 

$

2.35

 

 

$

1.83

 

Diluted

 

$

0.67

 

 

$

0.49

 

 

$

2.31

 

 

$

1.80