Income Per Share (Tables)

3 Months Ended

Mar. 31, 2020

Income Per Share

Schedule of basic and diluted income per share

Basic and diluted net income per share were computed as follows:

	Three Months Ended March 31,
	2020		2019
Net income (in thousands) - basic and diluted	$	50,771	$	37,983
Weighted average number of common shares outstanding - basic		33,168,453		34,169,315
Dilutive effect of common stock equivalents:
RSAs with service-based conditions		71,221		92,081
RSAs with market-based conditions		131,024		180,032
RSAs with performance-based conditions		49,778		35,989
Stock options		179,371		225,872
Weighted average number of common shares outstanding - diluted		33,599,847		34,703,289
Basic net income per common share	$	1.53	$	1.11
Diluted net income per common share	$	1.51	$	1.09

Summary of shares excluded from the calculation of diluted income per share because their effect would have been anti-dilutive

The following table summarizes shares excluded from the calculation of diluted net income per share because their effect would have been anti-dilutive:

	Three Months Ended March 31,
	2020		2019
Anti-dilutive common stock equivalents:
RSAs with service-based conditions		5,271		14,706
RSAs with market-based conditions		8,341		19,701
RSAs with performance-based conditions		—		—
Stock options		32,067		123,688
Total anti-dilutive common stock equivalents		45,679		158,095