Earnings Per Share

12 Months Ended

Dec. 31, 2019

Basic EPS is calculated by dividing the profit for the year attributable to ordinary equity holders of the parent by the weighted average number of ordinary shares outstanding during the year.

Diluted EPS is calculated by dividing the profit for the year (numerator) attributable to ordinary equity holders of the parent by the weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares arising from exercising all dilutive ordinary shares (denominator).

The following table reflects the income and share data used in the basic and diluted EPS computations:


	Years Ended December 31,
	2019		2018		2017
Net income for the period - attributable to ordinary equity holders of the parent (in thousands)	$	86,920	$	121,310	$	64,860
Weighted average number of ordinary shares (in thousands of shares)	59,986		59,567		59,320
Basic EPS	$	1.45	$	2.04	$	1.09
Dilutive effect of share based payments (in thousands of shares)	1,313		1,482		1,354
Weighted average number of diluted ordinary shares (in thousands of shares)	61,300		61,049		60,674
Diluted EPS	$	1.42	$	1.99	$	1.07

For 2017 the weighted average number of shares equals the outstanding number of shares. In 2018 repurchases of treasury shares were taken into account on a daily basis. In 2018 and 2019 new shares were generated and transferred for settlement of stock based compensation ("2015 Plan", "2016 Plan", and "RSU Plan"), which was also included in the weighted number of shares. The dilutive effect of the share-based payment transaction is the weighted number of shares considering the grant date, forfeitures and executions during the respective fiscal years. The effect is determined by using the treasury stock method.